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  • Ralph A. Cantafio
  • Rick Eddington
  • Mark J. Fischer
  • Reed F. Morris
  • Elizabeth Wittemyer
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1031 Like-Kind Exchanges

Smart planning for your financial future sometimes includes exploration of a wide variety of legal tools, such as 1031 like-kind exchanges, as a means to defer capital gains tax after the sale of a qualifying property. A properly executed like-kind exchange allows property sellers to defer capital gains tax until a later date. In many instances, the net effect of a 1031 exchange will be that a seller postpones or defers paying capital gains tax. This is particularly important in a resort community such as Steamboat Springs which has many second homes acting as investment properties.

The Internal Revenue Code section allowing for 1031 like-kind exchanges does not include the sale of one's residence. Rather, a Section 1031 exchange is a means of managing financial outcomes resulting from the selling investment property.

Our law office works with Steamboat 1031 Exchange, LLC. Ralph A. Cantafio, Esq. and Mark J. Fischer, Esq. are experienced, qualified, and well versed in real estate laws encompassing a wide variety of transactions and other legal issues related to investment property and commercial property. They would be more than happy to consult on ways to legally avoid not only capital gains tax, but other types of taxes all in full compliance with all relevant local, state, and federal laws.