Asset Preservation’s 25th Anniversary!
"It is with great pleasure (and a bit of shock) that I announce API’s 25th anniversary! In 1990, three of us started API as a subsidiary of Placer Title Company in Northern California. This was when there was very little 1031 activity compared to the activity we see now. In our desire to grow nationally, and to provide greater security for client exchange funds, we successfully sold the company to Stewart Title Company in 1993.
This is where the memory gets blurry. I spent approximately 12 years traveling the country. I attended countless Stewart conferences, meeting the incredible Stewart family of associates, from coast to coast. Many of those friendships continue to this day. I gave more presentations, classes and lectures on 1031 exchanges than I can remember, while meeting outstanding people with whom I still have the pleasure of working. Expanding API nationally also allowed me to see much of our beautiful country, an opportunity I most likely would not have had otherwise. It was the work of the young, and I highly doubt that I could repeat that performance today…"
To read the message in its entirety, Read Message from API’s Co-founder and President.
Happy 25th Anniversary API!
Home Price Gains Continue to Rise Outpacing Inflation & Wage Gains
U.S. home prices increased 0.1% during February, and were up 4.2% compared to February 2014, according to S&P/Case-Shiller home price index (HPI). Year over year, the 10-city composite home prices increased 4.8%, up from 4.3% in January, while the 20-city composite showed prices increased 5.0%, up from a 4.5% increase in January. Read more…
1031 Basics: Partial Exchanges
Although a 1031 exchange allows investors to defer 100% of their capital gain tax liability, some choose to defer only a partial amount of their tax liability. In a partial exchange, the taxpayer defers a portion of the taxpayer’s capital gain taxes, but also pays taxes on capital gains equal to: 1) cash proceeds received; and/or 2) a reduction on their replacement property debt obligations. Both of these result in the receipt of "boot" which refers to any property received in an exchange that is not considered like-kind. To learn more about partial exchanges, or what is required for full tax deferral in a 1031 exchange, click on Partial Exchanges and Requirements for Full Tax Deferral.
API Presenting at 2015 BOMA International’s Every Building Conference & Expo
Scott Saunders, Senior Vice President of Asset Preservation, Inc. (API), will be presenting at the 2015 BOMA International Every Building Conference on the topic of “What is Behind the Surge in 1031 Exchange Activity?” from 2:15-3:15 p.m. on June 29th at the Los Angeles Convention. This presentation provides a concise overview of 1031 tax deferred exchanges for principals, brokers, and asset managers. In addition to covering critical IRS time deadlines, the presentation will focus on “like-kind” requirements including air rights, communication easements and other creative exchange alternatives. The presentation will address partnership/LLC scenarios faced by many BOMA members and how reverse/improvement exchanges can improve investment returns.
Will Water Restrictions Out West Impact Home Values?
That’s a question many people in the housing industry have been asking lately. Although it will take some time to realize the full impact of the restrictions on property values (and what’s to say water supplies won’t return to historical norms next year, resulting in a lifting of the restrictions), one can be sure that some prospective home buyers have already crossed California off of their list. Read more…
Attend A Complimentary 1031 Exchange Webinar For CPE Credit
Title: 1031 TAX-DEFERRED EXCHANGE ISSUES IN 2015
Presenter: Scott Saunders, Asset Preservation, Inc.
This one-hour webinar covers critical IRS time deadlines in deferred exchanges, like-kind requirements (including creative property variations like easements and personal property exchanges), partnership/LLC scenarios (and how to best structure in advance of a 1031 exchange), reverse and improvement exchanges, related party transactions, and how to avoid common pitfalls and other 1031 exchange related issues. This webinar will provide a summary of current developments regarding possible tax reform and the implications on 1031 exchanges. It also addresses applicable Revenue Rulings, PLRs, and other recent IRS guidance on current issues related to exchanges.
Date: Wednesday, June 10, 2015
Time: 8:00 a.m. – 9:00 a.m. (PST)
CPE Credits: 1.0 hour (Accountants & CPAs)
Racing to Buy Homes Sight Unseen
Residential real estate to be the next frontier for speed-based investing
Institutional-backed purchasers of single family rental properties are looking at quantitative analysis as a way to buy a shrinking supply of available homes. Read more…
Raleigh, NC, is strongest office market, says Morgan Stanley
Using 11 different indicators of office market strength, Morgan Stanley has ranked 14 major metropolitan areas from strongest to weakest. Read More…
IRS Provides Tax Relief for Disaster Situations
Certain taxpayers may qualify for postponement of the exchange deadlines in Section 1031 if the relinquished or replacement property is located in a Presidentially declared disaster area, or if the principal place of business of a party to the transaction is located in a covered disaster area. Taxpayers can also qualify by satisfying other criteria. For updates or more information, Visit the IRS: Tax Relief in Disaster Situations.