I wish you all a very happy holiday season! I personally love the winter Holidays for so many reasons, but one reason that stands out is that this season provides an opportunity to express my most sincere thanks and gratitude to those I work for and those I work with. I am ever so grateful to our clients, some of whom have been working with us since the early 90’s, as well as the many new clients we have been of service to this past year. It is truly a pleasure to work with you and provide the experience and integrity that a qualified intermediary should provide.
Asset Preservation is now in its 22nd year of business and I am proud of our accomplishments. I am constantly in awe of my associates who continually strive to be the best in our industry and provide excellent customer service. In the past months, the investment real estate market has gained ground, and has received some welcomed positive press. Thankfully, we have also seen an increase in 1031 exchange activity over the second half of 2011 as our clients have taken advantage of many excellent purchase opportunities. I am very optimistic and excited for what’s ahead in 2012 and the opportunities in the market.
With my most sincere thanks and gratitude, I wish you a joyous Holiday Season and much success in the New Year!
|
|
 Javier G. Vande Steeg President |
To Defer in 2011 or Postpone, That is the Question
| The final month of a tax year is often the last window of opportunity to implement tax planning that can help maximize tax savings. Along these lines, initiating a new 1031 tax deferred exchange before the end of 2011 can provide real estate investors with significant tax benefits.To read about some possible advantages of this tax strategy, read more… |
 |
1031 Basics: The Delayed Exchange
 |
Most exchangers take advantage of the delayed exchange format which, provides considerable flexibility in the time involved to identify property and ultimately purchase a desirable replacement property (or properties). To learn more about the steps involved in the delayed exchange process, read more.. |
Revised 1099-B Form Simplifies Capital Gain Calculation on Sale of Securities
Starting in 2011, for securities purchased after January 1, 2011, financial institutions must now report cost or other basis in box 3 of the newly revised Form-1099-B and note in box 8 whether the gain is short-term or long-term. Prior to this year, financial institutions were only required to report the sale side of transactions to the taxpayer and the IRS, essentially requiring only the date of sale and net proceeds received. It used to be up to the taxpayer and their tax advisor to determine the cost basis and holding period of securities sold. Read more…
Year-End Tax Tips from the IRS
Watch a video from the IRS’s YouTubeChannel about suggestions for taxpayers at the end of the year, watch now…