On this Unscripted video, we welcome Dave Haupt ([email protected]), director of tax for Red Rock Tax & Consulting, to discuss how operators can utilize a 1031 exchange. In the video, Dave briefly explains what a 1031 exchange is, what the rules of the tax option are and what kind of businesses should consider it.
For operators selling and buying washes considering a 1031 exchange, Dave suggests these steps, “Know what you want, that’s the beginning. Then, talk to your advisor, then getting in touch with your quality intermediary, selling the property, identifying the new one, buying it and then you’re off to the races.”
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