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).
Pennsylvania has a flat state income tax of 3.07% of federal taxable income. Additionally, many municipalities in Pennsylvania assess a tax on wages at an average rate of 2.94%.
1031 Accommodators, LLC, based in Pennsylvania, was established in 1993 and is one of the pioneering intermediary exchange companies in the Northeast. The company focuses on staying current with Section 1031 of the Internal Revenue Code by participating in conferences and training sessions organized by the Federation of Exchange Accommodators (FEA), the largest national trade organization for professional tax-deferred exchange accommodators. They emphasize strict compliance with IRC 1031 regulations in their documentation and procedures, aiming to facilitate wealth building and profit preservation for property owners through tax-deferred exchanges.
1031 Corp., headquartered in PA, emphasizes superior security, knowledge, and experience in handling 1031 exchanges. They offer segregated FDIC insured accounts for each exchange, which include the client's name and Tax ID, with the ability to monitor the account balance online at any time. Additional security measures include requiring multiple internal authorizations to move funds, the option for a Qualified Escrow Agreement, and coverage by a multi-million dollar fidelity bond and professional liability insurance.Their Exchange Team is comprised of a CPA, paralegals, and many hold the Certified Exchange Specialist® designation, boasting over 150 years of combined experience in the industry. The team is well-versed in all types of real property exchanges, regardless of size or complexity, and stays updated with continuous education on relevant tax laws and industry changes.The company ensures a streamlined exchange process, providing a dedicated Exchange Officer to each client while maintaining team-wide familiarity with each transaction. They offer user-friendly documentation, step-by-step guidance, and the flexibility to prepare documents and initiate exchanges swiftly, sometimes in as little as twenty minutes. They also provide comprehensive post-exchange support, including a packet with all exchange documents and a tax reporting booklet to aid in IRS Form 8824 preparation. They are not members of the Federation of Exchange Accommodators.
Congress Asset Exchange, LLC, based in Pennsylvania, was founded by John Maggi, a former Director of Strategic Initiatives at Unisys Corporation. Initially, the company, known as Congress Exchange, catered to tax-advantaged transactions primarily for clients of major U.S. banks. It has since evolved to offer a broader range of services, including Special Purpose Entity (SPE) services for both large and small companies and individuals. The company has experience handling transactions ranging from $100,000 to over $200 million and emphasizes building long-term client relationships. Congress Asset Exchange collaborates with various financial, legal, accounting, and real estate professionals to provide unique strategies and opportunities tailored to meet diverse client needs, including financial, tax, operational, and risk management objectives. They ensure that all SPEs are structured to be confidential, independent, and cost-effective. However, it is not a member of the Federation of Exchange Accommodators.
