Local banks band together to donate $300,000 in the fight to end homelessness
A group of Massachusetts-based banks recently celebrated a campaign that raised awareness and $300,000 for nonprofit Heading Home, which works to end homelessness.
Can you sell your property to a related party and still qualify for a 1031 tax deferred exchange? Can you buy your replacement property from a related party and still qualify for an exchange? John Starling, Senior Vice President at Northern 1031 Exchange, answers these important questions in a 2018 edition of the New England Real Estate Journal.
Starling discusses what the definition of a related party is as determined by the IRS, along with the rules that must be followed to exchange to/from a related party. He further outlines when a related party exchange is allowed and scenarios when it is disallowed. The IRS is adamant that there are only limited exceptions and it has been successful in challenging related party exchanges, so it pays to make sure you are well-versed in these guidelines before deciding on a related party exchange.
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Northern Bank adds new branch managers in Woburn
Northern Bank, a full-service business bank, today announced the appointment of business development managers Yomaira “B” Rosario and Joe Todisco to two branches in Woburn.
About Northern Bank & Trust Company
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 $2.87 billion with 13 locations serving communities throughout Middlesex County. Northern Bank is a Member of the FDIC, and an Equal Housing Lender.
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