Posted by Dan in Houston on March 06, 2008 at 14:40:18 from (38.100.70.66):
In Reply to: What's it worth?? posted by wyod on March 06, 2008 at 11:56:33:
If you are thinking of selling, consider a 1031 exchange to avoid paying capital gains. Basically you find something you want to buy, sell your property through a 1031 agent that holds the funds in escrow, then use the funds to purchase the new property. If you reinvest all the money into like property (raw land for raw land, etc) within 6 months or so, then you don't pay any capital gains. If for some reason you can't find something to buy, you just pay the capital gains that you would have paid anyway plus a few thousand. Not commonly done, but I recently did one with little trouble and a big tax savings. Find an accountant / lawyer / real estate agent that has actually done one and get the details.
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Today's Featured Article - Usin Your Implements: Bucket Loader - by Curtis Von Fange. Introduction: Dad was raised during the depression years of the thirties. As a kid he worked part time on a farm in Kansas doing many of the manual chores. Some of the more successful farmers of that day had a new time saving device called a tractor. It increased the farm productivity and, in general, made life easier because more work could be done with this 'mechanical beast'. My dad dreamed that some day he would have his own tractor with every implement he could get. When he rea
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