When it comes to a 1031 exchange, the process and rules are generally consistent across the United States due to the federal nature of the tax code. However, there can be some nuances based on local state laws and real estate market conditions that might make a 1031 exchange in Arizona unique compared to other states.
Overall, while the fundamental rules of 1031 exchanges are consistent nationwide due to their basis in federal tax law, the unique real estate opportunities and local professional expertise available in Arizona can provide distinct advantages for investors considering a 1031 exchange in this state.
The Combined Rate accounts for Federal, State, and Local tax rate on capital gains income, the 3.8 percent Surtax on capital gains and the marginal effect of Pease Limitations (which results in a tax rate increase of 1.18 percent).
Bracket levels adjusted for inflation each year. Release dates for tax bracket inflation adjustments vary by state and may fall after the end of the applicable tax year. Arizona's dependent exemption is only available for one dependent, in addition to the exemptions for the filer and their spouse.
Exchangeable, LLC, headquartered in Arizona, positions itself as a comprehensive provider for 1031 exchange services. The company emphasizes its expertise in safeguarding sales profits from IRS capital gains taxes through a well-refined 1031 exchange process. They highlight the security of client funds, which are managed by a fiduciary partner using advanced security measures for transactions. Exchangeable, LLC is a member of the Federation of Exchange Accommodators, underscoring their commitment to trust, knowledge, and efficiency in handling exchanges.
Spectrum Exchange Corp, based in Arizona, was founded in 1995 by Claire Westberg. The company has been known for its use of specialized software developed by Claire's husband, Rick Westberg, to provide high-quality 1031 exchange services. Claire Westberg retired in 2020, and the company is not a member of the Federation of Exchange Accommodators.