We are pleased to announce that in order to meet the growth in our volume of 1031 exchange transactions, NES Financial has added six new Client Services experts to the San Jose and Boston offices. A top priority for NES Financial is to provide outstanding customer service. The additional team members will enable us to continue to deliver the level of service that our clients have come to expect.
A 1031 exchange is a way for businesses or individuals who want to sell property and also buy similar property to defer capital gains and depreciation recapture tax. Under Section 1031 of the Internal Revenue Code, an exchanger has 180 days after the sale of an existing asset to purchase a “like-kind” asset of equal or greater value. During this period, the sales proceeds are held with a Qualified Intermediary (QI). By working with a leading QI like NES Financial, an exchanger can convert their sale and purchase into an exchange, creating the opportunity for tax deferral.
“As the economy continues to recover, clients are increasingly looking to 1031 exchanges as a vehicle to increase capital efficiency,” said Reid Thomas, NES Financial Executive Vice President of Sales & Marketing. “With the unique capabilities of our 1031 solutions, we are seeing strong demand from new and existing clients. The additional 1031 exchange specialists demonstrate our commitment to continuing to provide the quality of service and support our clients expect.”
With over $85 billion in annual funds flow, NES Financial is the nation’s leading independent Qualified Intermediary, offering 1031 Exchange Solutions for all exchange types – Forward, Reverse, Program, and Specialty.
We have experience and expertise in a wide array of industries. In fact, our General Counsel developed significant 1031 guidance during her tenure at the IRS National Office. NES Financial’s solutions provide the highest levels of security, transparency, and compliance in the industry.
To read the full press release, click here.
What is a 1031 exchange? Find out more by downloading our 1031 Exchange Kit.
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