If you’ve ever owned real estate, you’ve likely heard of the 1031 exchange, also known as a like-kind exchange. Essentially, this allows business owners or investors to sell a property, acquire a new ...

Kelly Alton, NES Financial Corp., San Jose, Calif. The capital-intensive nature of companies engaged in oil and gas operations and the liberal rules that determine the like-kind nature of oil and gas ...

On September 27, 2022, the Pennsylvania Department of Revenue (“DOR”) issued a revision of Personal Income Tax Bulletin 2006-07 (the “Bulletin”), which confirms that recent Pennsylvania legislation ...

A Section 1031 like-kind exchange is an Internal Revenue Code provision that allows a person to not pay tax on a gain when selling real property to reinvest in real property of equal or greater value.

It is a basic principle of the income tax that the gain or loss realized by a taxpayer from the conversion of property into cash, or from the exchange of property for other property that differs ...