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1031 exchange limit could cut property sales, tax revenue, critics say


Oklahoman
Real estate investment would go stagnant, commercial property go unimproved, and construction jobs go away if President Joe Biden succeeds in chopping the popular tax accounting regulation known as a 1031 tax-free exchange, some real estate specialists say.
It could freeze the market, said Ford Price, managing partner of Oklahoma City brokerage Price Edwards & Co.
Section 1031 of the Internal Revenue Code encourages investment by letting sellers postpone paying capital gains taxes through a series of exchanges. Taxes only come due when there is a sale not followed by another purchase  without reinvestment.
Biden wants to end the tax break for gains greater than $500,000 as part of his American Families Plan. It s part of his broader plan to finance child and elder care. ....

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The Spin: Illinois to lose congressional seat over population drop | Former congressman Gutiérrez blasts Kim Foxx | Lightfoot touts economic development in struggling neighborhoods as critics hammer her over crime

The Spin: Illinois to lose congressional seat over population drop | Former congressman Gutiérrez blasts Kim Foxx | Lightfoot touts economic development in struggling neighborhoods as critics hammer her over crime
chicagotribune.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chicagotribune.com Daily Mail and Mail on Sunday newspapers.

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Norfolk property agent Sowerbys announces new directors


Published:
4:34 PM March 9, 2021
  
Updated:
4:37 PM March 9, 2021
Left to right: Carly Grigglestone, group marketing director; Ed Tyman, group operations and lettings director; Max Sowerby, managing director; Ginny Studd, group finance director; Lloyd Sandy, managing director; Will Lightfoot, group sales director; and Paul Newell, local director for Holt.
- Credit: Sowerbys
Independent Norfolk estate agency Sowerbys has announced the appointment of five new directors amid plans to expand.
As part of the changes to the senior management team, Ginny Studd has become group finance director and Will Lightfoot appointed group sales director.  
Marketing manager Carly Grigglestone has also become the group s marketing director, while Ed Tyman has been appointed group operations and lettings director and Paul Newell appointed as local director for Holt. ....

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