Learning the Basics of 1031 Exchange
It does not seem difficult to buy or sell a property. But when tax is involved, the process becomes a little complex to understand. Despite that, having knowledge about taxes can be beneficial in some situations. For example, when you decide to sell your property and purchase another, there are certain tax rules you need to be aware of. If the sale involves two investment properties, it may be suitable for a 1031 exchange.
The 1031 exchange covers issues regarding the exchange of one business or investment property for another. Through this investment strategy, you will be allowed to sell your income, business or investment assets and replace it with a like-kind property. In this case, you may exchange a shopping center for an apartment or an industrial building. To qualify for this, only like-kind properties that are held for business or investment purposes can be exchanged. Hence, exchanging your residence for an investment property, will not be qualified for this type of exchange. When you qualify to this type of exchange, you may have the chance to experience a tax deferral. But you should always keep in mind that this method only works when both properties involved are of the same type.
There are certain rules and requirements involved in a 1031 exchange. For one, you have to wary of a strict 180-day timeline. For the first 45 days after closing the sale for your old property, you are expected to identify in writing a number of potential properties to replace it. This includes weekends and holidays. Also take note that the total value of the properties you identify should not exceed the 200% limit or the double value of your old property when you sold it. After the 45-day period, you will be given 135 days to purchase any of the potential replacement properties you identified. Aside from these 180 days, you will not be given additional days to complete the exchange.
During the exchange, you cannot get hold of the money. A qualified intermediary will hold the proceeds of the sale in a separate account, at least until you have completed the purchase of the new property. He or she is also responsible for preparing the documents required by the Internal Revenue Service for the exchange. Your family members or business associates for the preceding two years will not be qualified as an intermediary.
Besides the aforementioned requirements, you should also know that the name listed in the titles of the old and the new property should be the same. Besides these requirements and information, you will have to know more about 1031 exchange. It would help to know more about this type of transactions when you seek the assistance of a lawyer who has adequate knowledge and experience in this matter.
Why You Need to Hire a Personal Fitness Trainer
Do you want to live a happier, healthier and functionally fitter life? Perhaps you just want a fab bod or you want to get ripped. No matter what your goals for hitting the gym, a qualified personal trainer can always help you reach them.
Here are solid reasons for hiring a personal trainer:
You’re a newbie.
Pumping iron is not as simple as lifting heavy objects, putting them down, and lifting them up again. You may think everything is so easy, but what makes you so sure? If you have a “workout partner” helping you out, what makes you think he’s giving you the right coaching? Friends are great to work out with, but you need a professional trainer to really get things right.
You like the machines a lot.
Instead of doing proper squats, do you usually head over to the leg press machine over the Smith rack? Have you never tried a deadlift before? Are you a frequent user of the pec deck? If you talk about lifting, old school is the only choice, and old school means free weights. Machines can be quite useful, but only for “finishing” exercises.
You focus too much on the bar muscles.
For the men, no doubt women dig bulging biceps, but that doesn’t mean you should stop there. Consider your entire body. A good personal trainer will make you a total lifting program which helps you attain your specific goals, while helping you develop a healthy and high-performance physique which women will find attractive.
You seem to enjoy the pec deck so much.
Some bicep pumps should be okay, but you have to take an all-body approach through multi-joint movements – bench press, deadlifts, chin-ups, rows, squats and overhead press.
You’re causing injury to yourself and/or barely making progress.
Weightlifting is so important. A professional will ensure that you’re lifting right, getting the best results and protecting your joints at the same time. Stop flopping around, trying to bench more than you need to.
You’re bored or plateauing.
No matter how accomplished you are as a lifter, a trainer can still help you with new combinations to keep lifting more interesting.
If you’re convinced you should hire a personal trainer (most people actually do, especially in the beginning), don’t just choose anyone. Find someone who can give you references and is certified. Not all certifications are created equal though. Some of the reputable ones include ISSA (International Sports Society Association), ACE (American Council on Exercise), NASM (National Academy of Sports Medicine), IDEA Health & Fitness Association, and the AFAA (Aerobics and Fitness Association of America).
Of course, you should also ask about payment. Most probably, you can get a reduced rate for a 10 to 20-session package. Take note, your trainer’s philosophy should be a match to yours; otherwise, you won’t feel so positive about your training and that affect your results. Lastly, take a look at the trainer. If he’s not in the best shape, ask why. You can’t be motivated by someone who can’t motivate himself.
Source: New Jersey personal trainers
FOR IMMEDIATE RELEASE
(Portland, OR)—Recent reports and statistics have estimated that while nearly 50 percent of Americans own corporate stocks, only 1 to 3 percent of them have any of their money invested in precious metals. Less than half of the population even considers precious metals to be a wise investment choice.
It is with these statistics in mind that eGoldAdvisor is announcing the grand launch of their precious metals investment website. The website is intended to be a premier resource for information about buying gold and silver as well as making investments in a gold IRA.
John Wilson, accomplished businessman and investor and the creator of eGoldAdvisor, stated “There is no doubt that we are conditioned from birth to put our trust in paper money. However, that’s not the path to building true wealth. Those who want to maintain their wealth and prosper in unstable economic times definitely need to consider investing in precious metals like gold and silver. Unfortunately, it is evident that many people have a lack of understanding of the benefits of doing so as well as how to do so. Thus, I developed a passion for teaching people about Gold IRA and Precious Metals Investments, and eGoldAdvisor was born out of that passion.”
As Wilson continues, “The purpose of launching this website is to help people understand the importance and urgency of putting their money where it will count the most. On the website, readers will find information about how to invest in precious metals as well as an in-depth Regal Assets review. We fully explain to our readers why we believe this company is the clear winner for the best gold IRA on the market. We also show readers why paper gold and silver are not the way to go and why it’s important to make sure that they have physical gold and silver in their portfolios.”
“Those who want greater financial stability will find it in precious metals. Gold has been called a “crisis commodity” because it doesn’t waver much in value, providing security during unfriendly times in the political and social life of America. With the help of our new website, readers will learn all about how including precious metals in their portfolio will benefit them no matter what storms roll through today’s markets.”
eGoldAdvisor is a website started by John Wilson. John is an accomplished online and offline businessman and investor with significant personal holdings of precious metals and real estate. It is John’s passion and mission to help others become aware of all of the ways in which investing in previous metals can give them the opportunity to preserve and even prosper their wealth. As a website, eGoldAdvisor provides advice on precious metals investment and physical metal IRA’s.