| Government Affairs |
Your voice is needed. SAMCAR is joining with the Northern California Commercial Association of REALTORS® (NCCAR) to preserve 1031 Tax-Deferred Exchanges. Congress will be introducing tax reform bills in the next few months and Section 1031 Tax-Deferred Exchanges are directly threatened and could very well be repealed or severely limited.
When investors or businesses structure their sales as 1031 Tax-Deferred Exchanges, they are able to defer paying capital gains taxes, state taxes and most other taxes. The 1031 Exchange is a powerful tool that encourages people and entities to re-invest their profits into new property, stimulating business and economic growth. Most people, businesses and the overall economy are all touched by the use of 1031 Exchanges. Repealing or even limiting this valuable financial tool will have an immediate and negative impact on real estate and the overall economy.
SAMCAR and NCCAR (along with NAR) are working to ensure that a repeal or restriction of Section 1031 is NOT included in any bill that is introduced. Your assistance in this effort is needed now! It only takes 30 seconds to send Congress a letter saying NO to 1031 Exchange Tax Reform.