Jul 10, 2021
Today we
discuss 1031 exchanges with Michael Brady, and the Biden
Administration's proposal to possibly eliminate them, as well as
the potential impact this will have (and is having) on real estate.
As an overview, a 1031 exchange allows you to sell one investment
or business property and buy another without incurring capital
gains taxes. It also has a multiplier affect in that 1031 exchanges
help to generate revenue, jobs, and economic development. So why is
the current White House administration proposing to possibly
eliminate 1031 exchanges when cutting it would barely put a dent in
the deficit? Is this really a good idea?
Key Discussion Points
[01:06] Opening remarks by Eric Odum & Steven
Silverman
[03:32] About our guest: Michael Brady
[05:14] What is a 1031 Exchange and why is it important?
[07:09[ How have 1031 Exchanges and captial gains changed over
the last 30 years?
[10:19] Discuss the thinking of Congress to cut 1031 Exchanges
to help lower the defiicit
[12:52] If 1031 Exchanges get cut, how will that affect real
estate transactions and prices?
[16:43] If 1031s get cut, when might this happen? And might it
be retroactive?
[20:20] How can folks contact you?
[21:32] Closing comments by Eric & Steven