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Bob Goodson

A man with short dark hair, wearing a black suit jacket and white dress shirt, smiles at the camera in front of a plain gray background.

Bob Goodson

Regional Sales Manager UT, ID, WY, MT, First American Exchange

(801) 924-5346 bgoodson@firstam.com
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Articles

A metal windmill stands in a grassy field at sunset, with distant mountains and a pink, orange, and purple sky in the background. A wooden bench sits near the windmill, facing the scenic view.

Deferring Tax on Mixed-Use Properties Utilizing Sections 1031 and 121

Posted: Thursday, August 08, 2024

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...

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A wooden barn with a green roof houses large round hay bales stacked in rows. The barn is open-sided with wooden posts and beams, and grass grows in the foreground. Trees are visible in the background.

Seller Financing Strategies and 1031 Exchanges

Posted: Thursday, January 18, 2024

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...

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A gravel road curves through the countryside, bordered by a wooden fence on the left and trees with green and yellow leaves on the right, with scattered fallen leaves and rolling hills in the background.

Potential Tax Benefits of A Failed Exchange

Posted: Thursday, December 07, 2023

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...

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A weathered wooden wagon with large spoked wheels sits in tall grass under a clear sky, surrounded by rolling hills and distant mountains.

Determining Replacement Property Basis in a 1031 Exchange

Posted: Thursday, August 24, 2023

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...

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A rustic wooden barn sits in a grassy field, with weathered fences nearby. In the background, tall, snow-capped mountain peaks rise under a blue sky dotted with clouds.

What is a Like-Kind 1031 Exchange?

Posted: Thursday, May 11, 2023

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...

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A rural landscape at sunset with large barns, open fields, scattered trees, and distant mountains under a colorful sky with orange and blue hues.

Navigating a 1031 Exchange

Posted: Thursday, February 09, 2023

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...

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