{"id":12397,"date":"2011-02-10T19:37:02","date_gmt":"2011-02-11T00:37:02","guid":{"rendered":"https:\/\/www.certitrek.com\/nebb\/are-you-eligible-for-a-1031-exchange\/"},"modified":"2022-12-29T03:46:14","modified_gmt":"2022-12-29T08:46:14","slug":"are-you-eligible-for-a-1031-exchange","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/are-you-eligible-for-a-1031-exchange\/","title":{"rendered":"Are You Eligible for a 1031 Exchange?"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1144px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-1\"><p>A new year brings with it promises of tax time. And while you\u2019re poring over the multiple forms on your desk and sorting through your 2010 receipts, you may already be planning for your 2011 taxes. If you\u2019re planning on selling one of your business\u2019s assets this year and replacing it with a new one, you should be aware of <a href=\"http:\/\/www.nebbinstitute.org\/info\/accountant.php\">1031 exchanges<\/a>.<\/p>\n<p>A 1031 exchange\u00a0is an IRS-approved way of deferring capital gain taxes. Every time you sell an asset and make a profit from that sale, that capital gain income is taxable. However, if you sell one piece of machinery or equipment and replace it within a certain period of time, you\u2019ve performed a 1031 exchange. A 1031 exchange says that if money earned from an asset\u2019s sale is used to purchase another asset of equal value, or like-kind, there is no economic gain and you are under no obligation to pay capital gain taxes.<\/p>\n<p>The IRS clearly defines like-kind when it comes to pieces of machinery or equipment so it closely monitors these types of exchanges. Because of this, it\u2019s a good idea to work with an NEBBI-certified appraiser when determining the value of your property for tax purposes.<\/p>\n<p>The <a href=\"http:\/\/www.nebbinstitute.org\/\">NEBB Institute<\/a> endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery\/equipment appraisal and brokerage.<\/p>\n<p>By: <a href=\"https:\/\/www.certitrek.com\/nebb\/\" target=\"_blank\" rel=\"noopener\">NEBB Institute<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A new year brings with it promises of tax time. And while you\u2019re poring over the multiple forms on your desk and sorting through your 2010 receipts, you may already be planning for your 2011 taxes. If you\u2019re planning on selling one of your business\u2019s assets this year and replacing it with a new one, [&#8230;]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[170,71,53,35,37],"class_list":["post-12397","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-1031-exchange","tag-equipment-appraisal","tag-machinery-appraisal","tag-nebb-institute","tag-nebbi"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.4 (Yoast SEO v19.13) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Are You Eligible for a 1031 Exchange?<\/title>\n<meta name=\"description\" content=\"A 1031 exchange is an IRS-approved way of deferring capital gain taxes. Every time you sell an asset and make a profit from that sale, that capital gain income is taxable.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/are-you-eligible-for-a-1031-exchange\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Are You Eligible for a 1031 Exchange?\" \/>\n<meta property=\"og:description\" content=\"A 1031 exchange is an IRS-approved way of deferring capital gain taxes. Every time you sell an asset and make a profit from that sale, that capital gain income is taxable.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/are-you-eligible-for-a-1031-exchange\/\" \/>\n<meta property=\"og:site_name\" content=\"NEBB\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NextLevelPurchasing\/\" \/>\n<meta property=\"article:published_time\" content=\"2011-02-11T00:37:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-29T08:46:14+00:00\" \/>\n<meta name=\"author\" content=\"Galo Matagay\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:site\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Galo Matagay\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/are-you-eligible-for-a-1031-exchange\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/are-you-eligible-for-a-1031-exchange\/\"},\"author\":{\"name\":\"Galo Matagay\",\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/#\/schema\/person\/72d094fab77892483dfa6e061cb27eaa\"},\"headline\":\"Are You Eligible for a 1031 Exchange?\",\"datePublished\":\"2011-02-11T00:37:02+00:00\",\"dateModified\":\"2022-12-29T08:46:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/are-you-eligible-for-a-1031-exchange\/\"},\"wordCount\":433,\"publisher\":{\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/#organization\"},\"keywords\":[\"1031 exchange\",\"equipment appraisal\",\"machinery appraisal\",\"NEBB Institute\",\"NEBBI\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/are-you-eligible-for-a-1031-exchange\/\",\"url\":\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/are-you-eligible-for-a-1031-exchange\/\",\"name\":\"Are You Eligible for a 1031 Exchange?\",\"isPartOf\":{\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/#website\"},\"datePublished\":\"2011-02-11T00:37:02+00:00\",\"dateModified\":\"2022-12-29T08:46:14+00:00\",\"description\":\"A 1031 exchange is an IRS-approved way of deferring capital gain taxes. 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