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Do Not Consider Investing in Real Estate (Including Your Own Home) With More Than 20% of Your Assets
If you create a pie chart of all your investment assets and real estate is more than 20%, do not consider investing in more real estate. I understand that your home may, itself, be greater than 20% and I’m ok with that because it is much more than just an investment.
When to Consider a 1031 Exchange
A 1031 exchange allows you to exchange a piece of real estate for another piece of real estate without paying capital gains taxes. Consider a 1031 exchange ONLY when continuing to hold property in your portfolio makes the most sense BEFORE considering taxes.
Manage Your Gifts in a Taxwise Manner
We don’t usually think of managing gifts for tax purposes, but as you begin thinking about how you want to share your wealth it becomes very important. There are two types of gifts I’m thinking about here, charity and the gifts to your heirs.