J. Paul Spring is an attorney who began his career after graduating from college in Utah and working at an investment company in Montana. He moved to San Diego to earn his law degree and passed the bar while working at a title insurance company. Starting in customer service, he advanced to the legal department and eventually became president of their trust company. He remained there until the formation of Exchange Resources Inc. He lives in San Diego with his wife, where they raised five children and now enjoy spending time with their 12 grandchildren.
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Essential reading for anyone planning a like-kind exchange. Discover how to navigate capital gains and 'boot' in a 1031 exchange with our comprehensive guide. Learn what constitutes taxable boot, including cash and mortgage scenarios, and strategies to minimize tax implications.
Established 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.
