Investors are often shocked that they haven’t learned of a powerful tax savings tool call trade-up basis. One cannot complete an efficient exchange that achieves their goals in a tax-efficient manner without first understanding terms such as “carryover basis” and “trade-up basis” and how these concepts work in an exchange.
Taxes are often one of the biggest threats to accumulating wealth. Nathan was selling a multi million dollar, multi-family property. When a client is considering selling and the sale price has 8 digits, taxes are a big consideration.