Patrick J. Cusick is a Baton Rouge native with a legal and financial educational background. He holds a law degree from Southern University Law School and a B.S. in Finance from Southeastern Louisiana University. Patrick is a Certified Exchange Specialist®, a designation held by approximately 100 professionals nationwide, indicating specialized knowledge in exchange transactions. He began his career at Title Exchange Co. in 2006 and is also a partner at Hyde Law Firm. Additionally, he is a member of the Federation of Exchange Accommodators.
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Essential reading for anyone planning a like-kind exchange. Discover how to navigate capital gains and 'boot' in a 1031 exchange with our comprehensive guide. Learn what constitutes taxable boot, including cash and mortgage scenarios, and strategies to minimize tax implications.
Established in 1921, 1031 Exchanges have evolved through key legal cases and legislative changes, including the introduction of delayed exchanges, stricter timelines, and rules for holding exchange funds. Despite these changes, the core purpose remains to incentivize real estate investment and market growth.
A 1031 exchange can be an incredible tool for real estate investors to reduce their tax liability. We demystify the rules required to qualify and successfully complete a like-kind exchange.
