Given the unpredictable state of today’s economy, many companies are selling business or investment property and buying other investment assets. By using a 1031 exchange in this process, companies can defer capital gains and depreciation recapture taxes. One of the requirements of using a 1031 exchange is that funds must be held in banks with a Qualified Intermediary (QI) in the time between sale and purchase.
Surprisingly, many companies that consider using a 1031 exchange spend little time considering which QI to use. As such, common reasons behind the selection of a QI range from choosing the lowest price on the first page of a Google search to choosing a bank or title company involved in a transaction to word-of-mouth recommendations from family, friends, or acquaintances.
As the leading provider of 1031 exchange solutions in the industry, NES Financial has established the most rigorous industry standards in voluntary compliance, transactional transparency, and funds security. Our industry-leading best practices aim to set a higher standard for QI accountability.
NES Financial has more experience with Fortune 1000 and other clientele conducting all types of exchanges than any other independent QI.
What is a 1031 exchange? Learn more by downloading our 1031 Solution Kit.
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