John V. Maggi has been involved in the creation, ownership, and management of Special Purpose Entities (SPEs) for various purposes including real estate, asset structuring/financing, risk management, and 1031 Like-Kind Exchanges since 1989. He has a strong corporate and entrepreneurial background, having founded and served as CEO of Gotham Companies/Safe Technologies, LLC, a multi-million-dollar company in information systems and financial services. His previous roles include senior-level positions at Unisys/Sperry Corporation, a Fortune 50 company during his tenure, and Vice President of Mergers, Acquisitions, and Real Estate at DecisionOne Corporation, which was the largest third-party provider of maintenance and repair services for information systems at the time.John began his career at Price Waterhouse in New York, working in the tax and auditing divisions with primary clients like IBM and the New York Shipping Association. He is a Certified Public Accountant (CPA) in New York State and holds a B.S. in Accounting & Economics and an MBA in Finance from Long Island University - C.W. Post, with post-graduate studies at New York University. He is currently associated with congress-asset-exchange-llc.
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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.
