Bob Goodson's Articles
Bob Goodson
Regional Sales Manager UT, ID, WY, MT, First American Exchange
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Deferring Tax on Mixed-Use Properties Utilizing Sections 1031 and 121
Posted: Thursday, August 08, 2024
Author: Bob Goodson
When it comes to issues related to capital gains taxes associated with the sale of real estate, there are two primary provisions of the tax code that apply, IRC Section...
Seller Financing Strategies and 1031 Exchanges
Posted: Thursday, January 18, 2024
Author: Bob Goodson
As interest rates rise and financing gets more challenging, sellers who are motivated to sell may offer to finance a portion of the purchase price. At the closing, the buyer...
Potential Tax Benefits of A Failed Exchange
Posted: Thursday, December 07, 2023
Author: Bob Goodson
A 1031 exchange that starts near the end of a tax year will often run into the following tax year. The regulations address how to handle incomplete exchanges and cash...
Determining Replacement Property Basis in a 1031 Exchange
Posted: Thursday, August 24, 2023
Author: Bob Goodson
Taxpayers conducting tax-deferred 1031 exchanges must take great care to ensure that they are following the fundamental rules of the exchange, buying up in value and reinvesting all exchange proceeds...
What is a Like-Kind 1031 Exchange?
Posted: Thursday, May 11, 2023
Author: Bob Goodson
A 1031 exchange allows you to preserve wealth through reinvestment of “like-kind” property. Knowing some basic rules behind Internal Revenue Code 1031 can help investors defer paying capital gain tax...
Navigating a 1031 Exchange
Posted: Thursday, February 09, 2023
Author: Bob Goodson
Selling a farm or a ranch, like selling any business, often involves many different types of assets. The transaction may include equipment, livestock, water rights, crops, inventory, and, of course...
