How Do Our Presidential Candidates Feel About Changing Capital Gains Taxes?
June 3rd, 2008 by AptBldgTraderFirst American Exchange Company - The Exchange Update June 2008
A 1031 Tax-Deferred Exchange is a common vehicle for investors to defer paying taxes on a capital gain when selling an asset. Now that we are in the midst of the Presidential Election Season, it is important to understand each candidate’s stance on capital gains taxes. Here is some information that has been compiled on each of the three remaining Presidential Candidates.
The Republican nominee, Senator John McCain says on his website (www.johnmccain.com) that he will leave capital Gains at their current rate of 15%.
During the Democratic Debate in Philadelphia, PA on April 16, 2008, Senator Hillary Clinton (www.hillaryclinton.com) said she may or may not raise capital gains taxes, “…but not above 20 percent.”
Prior to the debate, Senator Barack Obama (www.barackobama.com) had said that he would raise capital gains taxes to between 20 and 28 percent. During the Philadelphia debate, Obama said “…I would look at raising the capital gains tax for purposes of fairness.”
No matter what the rate may be in the future, the 1031 Exchange plays an important role in real estate. You can be assured that First American Exchange Company will be here to assist you in deferring capital gains taxes via a 1031 tax-deferred exchange.
Author
First American Exchange Company: Source
June 3rd, 2008 at 9:39 pm
I recently came accross your blog and have been reading along. I thought I would leave my first comment. I dont know what to say except that I have enjoyed reading. Nice blog.
Tim Ramsey