Exchange Resources, Inc.

A non-resident alien is someone whose permanent residence is outside the United States and is not a citizen of this country. Are they eligible for a 1031 Exchange? Absolutely! 1. They must set up a US Bank account. Since they do not have a social security number, they must file IRS Form W-8BEN which is a Certificate of Foreign Status of Beneficial Owner for the United States Tax Withholding. 2. A foreign person must also provide a U.S. taxpayer ID number for a W-SECI to be ef...fective. A foreign individual may apply for an ITIN by filing a form W-7. Contact us if any of your clients would like to take advantage of the 1031 Exchange! #1031exchange #1031exchanges #sandiegorealestateagent #FIRPTA #foreigninvestors

If you have not been paid rent because of Covid-19 you now have the option to apply for the San Diego County Emergency Rental Assistance (available to 8,000 Households). Landlords may qualify for $3,000 one-time assistance with past unpaid or upcoming rent. They have to apply between September 24th, 2020- October 8th, 2020 at www.SDHCD.org. It is a lottery system, good luck!

San Diego County Emergency Rental Assistance now available to 8,000 Households. Landlords may qualify for $3,000 one-time assistance with past unpaid or upcoming rent. Apply between Septemeber 24th, 2020- October 8th, 2020 at www.SDHCD.org. Households must fall under 60% Area Median Income to qualify! #1031exchange #sandiegorealestate #sandiegorealestateagent #sandiegohomes

California: Lake, Monterey, Napa, San Mateo, Santa Cruz, Solano, Sonoma and Yolo counties that began on August 14, 2020. IF the taxpayer meets these criteria, THEN any 45-day or 180-day deadline that falls on or after the disaster date is extended to THE LONGER OF: (1) 120 days from such deadline; OR (2) the extension date listed in the Notice.

IRS issued a news release back in August designating certain counties in California to qualify for 1031 exchange extensions. These counties included: Lake, Monterey, Napa, San Mateo, Santa Cruz, Solana, Sonoma and Yolo counties. #1031exchange #1031exchanges

IRS has issued extensions for the State of Louisiana because of hurricane Laura. The FEA says the following counties (parishes) are: Allen, Beauregard, Calcasieu, Camron, Jefferson Davis and Vernon. If the relinquished property sold on or before August 22, 2020, the taxpayer is entitled to an extension of 120 days just like the others. Both of the following criteria must be met to get the extension under Revenue Procedure 2018-58, section 17: (1) The taxpayer is located in th...e Covered Disaster Area or is otherwise an affected taxpayer as defined in the Notice, regardless of where the relinquished property or replacement property is located, or otherwise has difficulty meeting the exchange deadlines under the conditions in Revenue Procedure 2018-58, section 17; AND (2) The relinquished property was transferred (or the parked property was acquired by the EAT in a reverse exchange under Revenue Procedure 2018-58) on or before the Disaster Date listed in the Notice. #1031#1031Exchanges#investmentproperty

45 and 180 Day Extensions for Disaster Areas in California and Iowa California: Lake, Monterey, Napa, San Mateo, Santa Cruz, Solano, Sonoma and Yolo counties that began on August 14, 2020. Iowa: Linn County on August 10, 2020.... Listed counties are the Covered Disaster Area. Both of the following criteria must be met to get the extension under Revenue Procedure 2018-58, section 17: (1) The taxpayer is located in the Covered Disaster Area or is otherwise an affected taxpayer as defined in the Notice, regardless of where the relinquished property or replacement property is located, or otherwise has difficulty meeting the exchange deadlines under the conditions in Revenue Procedure 2018-58, section 17; AND (2) The relinquished property was transferred (or the parked property was acquired by the EAT in a reverse exchange under Revenue Procedure 2018-58) on or before the Disaster Date listed in the Notice. IF the taxpayer meets these criteria, THEN any 45-day or 180-day deadline that falls on or after the disaster date is extended to THE LONGER OF: (1) 120 days from such deadline; OR (2) the extension date listed in the Notice [which is December 15, 2020]. Note the date may not be extended beyond one year or the due date (including extensions) of the tax return for the year of the disposition of the relinquished property (typically, if an extension was filed, 9/15 for corporations and partnerships and 10/15 for other taxpayers). Call us if you have been affected!

Ever wondered how a foreclosure works when you have a tenant in the property? #1031exchanges #investmentproperty

Patient Protection and Affordable Care Act involves Medicare taxes that have been in effect since January 1, 2013. The law imposes 3.8 percent Medicare Surtax on at least a portion of investment income, such as capital gains! Another reason to utilize the #1031exchange #deferredtax #taxdeferral #investmentproperty #investment #investor #consultyourcpa

Reminder: July 15th is the deadline for IRS Notice 2020-23! #1031exchange #investmentproperty #realestateagent #realestatetips #realestateinvesting #deadlines #1031 #taxdeferred #exchange #reminder #realestate #realestateprofessional

Join us to learn about the 1031 Tax-Deferred Exchange and the Delaware Statutory Trust! We will be covering strategy and best practices for a successful 1031 Exchange! Message me for free access! #1031exchange #1031

Moving the economy forward one exchange at a time (sometimes hundreds)! #1031exchange #investmentproperty #investing #realtor #realestateagent #realestateinvestors #cre #broker #commercialrealestate #residentialinvestments

Defer, Defer, Defer! #1031exchange #retailcre #commercialrealestate #investing #investmentproperty #tradedla #realestateagent #realestatesales