Nace Cohen, CPA, is the President and founder of 1031 Exchange Connection, Inc., located in South West Florida. He is a recognized expert in 1031 tax deferred exchanges, having handled a wide variety of these transactions since 2002, including simple, consolidation, diversified, reverse, construction, and improvement exchanges. Nace is also an expert on the Foreign Investment in Real Property Tax Act (FIRPTA) and serves as an IRS Certified Acceptance Agent, assisting foreign investors with tax ID applications and compliance with FIRPTA tax withholding laws. In addition to his specialization in 1031 exchanges and FIRPTA, Nace is a skilled income tax return preparer. He frequently shares his expertise through presentations to professionals involved in real estate transactions across Florida and the United States.
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CHAT NOWEstablished in 1921, 1031 Exchanges have evolved through key legal cases and legislative changes, including the introduction of delayed exchanges, stricter timelines, and rules for holding exchange funds. Despite these changes, the core purpose remains to incentivize real estate investment and market growth.
A 1031 exchange can be an incredible tool for real estate investors to reduce their tax liability. We demystify the rules required to qualify and successfully complete a like-kind exchange.
Learn about the 1031 Exchange process, a tax-deferred exchange allowing real estate investors to defer capital gains taxes. Explore important timelines, key deadlines, benefits, drawbacks, the significance of careful planning, and how to successfully navigate this tax deferral strategy.