Hey there, savvy investors, family business champions, and modern moguls! Grab a front-row seat and your favorite snack because we’ve got a blockbuster update that’s set to shake up the real estate world. President Biden has his eyes on the last great tax break for real estate investors: the mighty 1031 exchange. Yes, you heard it right—come 2025, this beloved tax loophole might be history!
So, what exactly is a 1031 exchange? Think of it as an "interest-free loan" from Uncle Sam. You sell one property, and instead of paying taxes on the profit, you roll that sweet stash into buying another property, deferring taxes and maximizing your investment potential. It’s like your stash of Halloween candy that never runs out—until now.
Biden's proposal aims to close this loophole, labeling it the last known indefinite interest-free government loan. This change could hit real estate investors hard, forcing them to rethink their strategies. Not just investors, but business owners too—higher real estate costs mean higher business expenses.
Stay ahead of the game by keeping an eye on these proposed changes. Calculated Moves is here to provide strategic planning and financial preparedness, making sure you’re ready for whatever comes next. Don’t let these changes catch you off guard; together, we can navigate these choppy waters smoothly.
Keep your eyes peeled for more updates, and head over to calculatedmoves.com to subscribe for the latest financial strategies. Got questions or thoughts on Biden's budget? Drop a comment below and let’s keep the conversation flowing while Uncle Sam adjusts his glasses.
Stay tuned, stay informed, and let’s ride this wave together!
Donna Bordeaux, CPA with Calculated Moves
Creativity and CPAs don’t generally go together. Most people think of CPAs as nerdy accountants who can’t talk with people. Well, it’s time to break that stereotype. Lively, friendly, and knowledgeable can be a part of your relationship with your CPA as demonstrated by Donna and Chad Bordeaux. They have over 50 years of combined experience as entrepreneurial CPAs. They’ve owned businesses and helped business owners exceed their wildest dreams. They have been able to help businesses earn many times more profit than the average business in the same industry and are passionate about helping industries that help families build great memories.