Licensed in Illinois and able to practice in other states
Accounting for Real Estate
I have 35 plus years of experience in accounting and income tax in the real estate area. This includes consulting and specialty areas like 1031 Exchanges. The job is not completed until my client is satisfied. I encourage my clients to do some of the work if they want. My clients include brokers, developers, traders and property owners — both rental and non rental.
A 1031 (tax-deferred) Exchange involves selling a qualifying property and acquiring another qualifying property within a specific time frame. Exchanging, as opposed to selling and buying a property qualifies the taxpayer for deferal of the payment of income taxes
If you are thinking of selling your existing property you should definitely consider this option. Otherwise, you will pay income taxes when you file your tax return, capital gains at best, ordinary rates at worst.
As an expert in 1031 Exchanges, we will advise you how to:
- minimize taxes
- protect your assets and
- maximize profits
Our firm works with several qualified intermediaries to provide these exchange services. Together we will help you maximize your gains from your real estate investments.