NOVI, Mich., June 8, 2006 (PRIMEZONE) -- Like Kind-Exchange, also called a 1031 Exchange, introduced into the U.S. tax code in 1921, is a boon to real estate investors. To help them figure out the sometimes complicated Internal Revenue Code, Lawrence Weiner and Richard Paul set up a company to help them defer and, in some cases, eliminate capital gains taxes. Specializing in tax and investment guidance for real estate investors, the pair has taken advantage of known IRS provisions to help reduce investors' taxes.
Though the code has existed for decades, it is often lost to the investor who does not have a handle on it or is not a financial professional. Real estate investors, including farmers, landlords, commercial property owners and land owners can benefit from the services provided by Weiner & Paul, LLC. With combined experience, totaling half a century, the two financial professionals put together a plan solely for the purpose of helping real estate investors save money in taxes.
Like-kind exchanges were introduced into the Internal Revenue Code in 1921. The taxpayer can defer the 15% capital gains on the sale. The taxpayer can also defer the "depreciation recapture" tax estimated to be 25% of the historical depreciation. Weiner & Paul assist investors to use the 1031 Exchange to their advantage while staying within the legal limitations.
With the recent enormous rush to the real estate market, understanding the IRS code can be a timely and daunting task. Weiner & Paul have put their collective expertise together in the financial world to simplify the process for investors. By understanding and taking advantage of the complex tax code, they can lead investors through the steps necessary to complete a successful 1031 Exchange.
For information, contact Weiner & Paul at www.weinerandpaul.com or e-mail at lweiner@questarcapital.com or rpaul@questarcapital.com.