What about that brief interaction between strangers, the kind exchange of a favour?
With hundreds of thousands of transactions a year, it is hard to gauge the true cost of the tax break for so-called like-kind exchanges, like those used by Cendant, General Electric and Wells Fargo.
Depending on how someone buys and sells a ranch, there are special tax treatments for what the Internal Revenue Service calls like-kind exchanges, which can defer capital gains taxes, said Brian R. Gallagher, a tax partner at the law firm Davis & Gilbert.
This terminology is particularly associated with the work of Theatre Delicatessen, that over the last four years has established a system of what it calls "transactions" – in-kind exchanges of space, resources and services that have allowed them to put on their work and have this year secured them a residency in the old BBC offices in Marylebone.
If, as I've suggested, he and other real estate developers benefit from their ability to deduct paper losses against ordinary income and to defer capital gains taxes indefinitely through so-called like-kind exchanges, he has proposed nothing that would probably increase his own taxes.
Investors are also able to do whats called like-kind exchanges under Section 1031 of the tax code.
The woman who doesn't know the United States market faced a large capital gains tax bill unless she bought another property within 180 days (a transaction known as a "like-kind" exchange).
The Corcoran Group, a major real estate brokerage firm in Manhattan, recently held a like-kind exchange seminar to educate some of its clients about the service.
Also called a "like-kind" exchange, it allows a multiple-property owner to reinvest the gains made on the sale of one home into improvements on another.
Also called a "like-kind" exchange, it allows a multiple-property owner to reinvest the gains made on the sale of one investment home into improvements on another.
