Asset Preservation by Deferring Capital Gains
Asset Preservation by Deferring Capital Gains Tax
Asset preservation by deferring capital gains tax is what Bill Angove is all about. Bill was my guest on Money 2.0 to talk about the work he does at Asset Preservation, Inc. where Bill is the Vice President. Asset Preservation specializes in helping clients defer capital gains tax using a 1031 Exchange.
No business owner enjoys paying more tax than necessary. Bill gives background on the 1031 Exchange, which he explains is a piece of the IRS code that has been around since 1921. He says anyone selling an investment property can take advantage of the 1031 exchange. Bill gives general examples of the types of 1031 exchanges. He also notes that there are times they advise clients that it is too late or not the best fit for a client to do 1031.
Bill says their consultants at Asset Preservation Inc. walk clients through the entire process to help clients understand the options. He says there is some flexibility with 1031s, however, it is good to understand your options early on as there are timelines that must be respected.
If you would like to hear my conversation with Bill Angove, please click here.
