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John Starling, Senior Vice President of Northern 1031 Exchange, answers frequently asked questions regarding like-kind exchanges in a 2019 article published in the New England Real Estate Journal.
In this piece, Starling reiterates the benefits of tax deferred exchanges, including improved cash flow, resolved management problems, increased leverage and enhanced opportunity for greater wealth appreciation. Then he goes on to list the key exchange questions on most investors’ minds and provides expert answers.
So, what do investors want to know most about 1031 Exchange? How does it Work? How can a Qualified Intermediary help you implement this process? What does a Qualified Intermediary do? What are the requirements for reinvesting in a replacement property? What is considered like-kind property? What properties do not meet the 1031 requirements? What is the sequence of events and how to get started?
This article provides an in-depth overview of the exchange process and highlights the important details needed to do an exchange. Both season exchangers and first-timers will find it insightful and informative.
For many business owners, it’s difficult to imagine life without their business. While it’s easy to put off planning, preparing for an exit makes your business more stable and valuable—whether you plan to sell soon or years down the road. A business that can be sold for top dollar is also one worth keeping.
Northern Bank is celebrating Financial Literacy Month through educational initiatives designed to empower individuals at every life stage.
As the tax season approaches, it’s essential for working individuals to stay informed about recent changes to ensure accurate and compliant tax returns, potentially maximizing refunds.
Northern Bank is a full-service bank dedicated to providing practical, common sense financial solutions to help our customers live their lives and grow their businesses. From deposit products to loans to payment and collections services, we work hands-on with our entrepreneurial customers, both locally and across the country, to provide the financial support they need to realize their personal and business goals. Founded in 1960, Northern Bank has assets of $3.11 billion with 12 locations serving communities throughout Middlesex County. Northern Bank is a Member of the FDIC, and an Equal Housing Lender.
Contact us now to learn more about how Northern Bank can help you realize your goals and dreams.