1031 Tax Exchanges are a powerful way for companies to see significant tax savings on the sale of idle assets. Yellow Tag Auctions can assist clients with tax deferred asset sales through these Section 1031 tax exchanges. In a typical asset sale the owner is taxed on any gain realized from the sale of an asset. With a 1031 tax exchange, proceeds from the sale of one asset may be invested in another asset through a LKE or “Like Kind Exchange”. An example would be a company selling an asset for $250,000 and purchasing a new asset for $1,000,000. By investing the $250,000 in the new asset capital gains taxes are avoided or deferred. The assets in the LKE need to be similar in nature but not identical and can be new or used. Yellow Tag Auctions can provide escrow services, consultation and assistance with this process.
Contact Chris Falatok for more information on this exciting opportunity to cut your tax bill and keep your money at work in your business at (864) 461-2400 or firstname.lastname@example.org.