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Category: Taxes


1031 EXCHANGE RULES – DEFFERAL CAPITAL GAINS TAX

October 26, 2021 at 11:05 am | Taxes | Creditsinusa1 -

A 1031 exchange is a tax-deferred exchange that the IRS allows on investment property. “Exchange” does not refer to the actual exchange of property between two owners, but to the process of selling one property and buying another. Section 1031 of the Internal Revenue Code governs these transactions, hence the reference to the 1031 Exchange.

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“1031 EXCHANGE RULES – DEFFERAL CAPITAL GAINS TAX”

States with No Income Tax

July 15, 2021 at 7:04 am | Taxes | Creditsinusa1 -

Living tax-free would be wonderful , right? At the end of the day, tax season – in addition to being stressful – reduces your bank account balance. According to the Bureau of Labor Statistics, the average family in the United States pays about $ 8,800 in taxes (and we’re only talking about federal income taxes).

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“States with No Income Tax”