1031 Like Kind Exchanges

Illinois 1031 Exchange Attorney - Bonnie Spaccarelli Hannon, P.C.

Tax Deferred Exchange ● Avoid Capital Gains Tax ● Investment Property

Smart planning for the future includes exploration of legal tools such as 1031 like-kind exchanges as a means to defer capital gains tax after the sale of appreciable property. A properly executed like kind exchange allows property sellers to defer capital gains tax until a later date.

Deferring Capital Gains Tax

If you are interested in the prospect of deferring the payment of capital gains tax when selling an appreciable property, contact Illinois 1031 exchange lawyer Bonnie Spaccarelli Hannon. In many instances, the net effect of a 1031 exchange will be that you postpone or defer paying capital gains tax.

1031 Exchange: Not for One’s Home

The provisions of laws allowing for 1031 like kind exchanges do not include the sale of one’s home. Rather, an Illinois 1031 exchange is done as a means of managing financial outcomes of selling investment property.

Experienced Illinois 1031 Exchange Attorney Bonnie Spaccarelli Hannon

Illinois 1031 exchange attorney Bonnie Spaccarelli Hannon is experienced, qualified, and well versed in Illinois real estate laws encompassing a wide variety of transactions and other legal issues related to investment property and commercial property. To schedule a consultation with an experienced Illinois investment property lawyer on ways to avoid capital gains tax in full compliance with all relevant laws, contact Bonnie Spaccarelli Hannon, P.C.