Ranch and Rural Financial Resources has developed opportunities that help to potentially minimize various forms of taxation when our clientele is in their wealth accumulation phase of their lives. And just as vital, once wealth has been accumulated, it’s of extreme importance to establish a blueprint for the disposition of those assets that is controlled by the wishes and desires of our client and not by Washington. Will Rogers once said,” The only difference between death and taxes is that death doesn’t get worse every time Congress meets”. Sadly, he was wrong.
One of the most popular ways of deferring taxation on the sale of investment property is through a Section 1031 exchange. Unfortunately, there are many obstacles to overcome in completing a successful exchange due to many of the regulations in the Internal Revenue Code. Ranch and Rural Financial Resources has a number of tactics that can minimize those obstacles and help complete a successful exchange and defer taxation until a later date. However, an exchange may not be the correct solution but a client may feel more comfortable with a Deferred Sales Trust. Again, Ranch and Rural Financial Resources offers another potential opportunity for a quality of life solution. We are proud that many of our clients consider us to be tax reduction specialists.
A provision in the new health care laws calls for the hiring of 16000 IRS agents. When the IRS comes knocking on your door, it won’t be to take you to lunch. It will be to take you to the cleaners. Let’s partner to prevent that from happening.