Make Hay While the Sun Shines

“In this world nothing can be said to be certain, except death and taxes,” claimed Benjamin Franklin. But at least with the latter matter, there can be different degrees of severity. Indeed, in some respects, we are generally living in a relatively benign tax environment these days but given the increasingly populist and progressive sentiments … Continued

What’s Up With Downsizing?

Utilizing Home Equity to Meet Long-Term Needs and Objectives   The term downsizing typically connotes difficult decisions, often conjuring up images of harsh corporate layoffs. But downsizing also commonly describes the sensible and often rewarding —even cathartic — act of moving from a large house into a smaller and more manageable living arrangement. Of course, … Continued

Liking “Like Kind” Exchanges

Like other sections of the tax code, the 1031 Exchange is increasingly familiar, if not always well-understood, and it can be useful in the right situation. Section 1031 describes the circumstances where exchanges of “like-kind” properties are permitted that can defer recognition of both capital gain and taxes. Strict limitations and guidelines apply, and thus … Continued