An interesting point I learned yesterday while reading a magazine published by Charles Schwab, regarding the “Rule of 72″. Many people attribute the discovery of the “Rule of 72″ to Albert Einstein. However, it was actually written about in Summa de Arithmetica of Fra Luca Pacioli, printed in 1494.
Just a little factoid to make your weekend complete!
Until Next Time!! Keep your hands on your wallet, and your eyes looking forward.
Are you holding out on selling your property because you don’t want to pay all those taxes?
Well I have some good news! The government has provided a way for you to defer your taxes on the sale of a property. This program has been around awhile, but it not that well known. The program is called the 1031 Exchange. The 1031 Exchange is a law that allows the defferal of capital gains taxes on the sale of an investment/commercial property.
Upon the sale of your property, the proceeds are held in escrow for up to 180 days. During that time, you have the opportunity to find another property of “like kind” to purchase using those proceeds. This way the capital gains taxes are deferred until you sell a property without opting for the Exchange.
Now, this was a very simple (watered down) explaination of the program. Please be sure to consult your tax advisor or attorney before making any such decisions.
Until next time. Keep your hands on your wallet, and your eyes looking forward.
Man, has it been a while or what? I know, I know, I’ve been neglecting you guys. Well not anymore!! I have been reborn, so to speak. I was reminded this weekend why I do what I do. I just want to provide quality straightforward financial advice for the everyday person. I have spent a lot of time studying and learning about several subjects. If there are things that I come across in the course of my experiences that will help you, why not share it? I hope to bring everyone a new perspective on their finances.
Just so you know, I am sitting in the Marriott Hotel in downtown Atlanta right now. I am here for an internet marketing conference. I am learning quite a bit. That being said, if anyone has any SEO or Internet marketing questions, feel free to ask. I will try to answer it or find out the answer for you. Well it is getting late. Until next time…