Experts urging public to voice their support to congressmembers for 1031 exchanges and the vital role they have in fostering economic growth and stability.

LOS ANGELES, CALIFORNIA, U.S., April 23, 2024 /EINPresswire.com/ -- As the Biden administration's FY 2025 Budget proposal threatens to impose hard limits on IRC Section 1031 like-kind exchanges, experts at Peak 1031 Exchange (peakexchange.com) are advocating for their preservation. These proposed limits have sparked concerns across various sectors of the economy, prompting experts to urge the public to voice their support for this essential provision.

"1031 exchanges are more than just a financial mechanism; they are a vital lifeline for the revitalization and sustainability of communities across the nation," said Kevin Levine, Executive Vice President of Peak 1031 Exchange. "Preserving this provision is crucial for continuing the economic momentum and ensuring equitable growth opportunities for all sectors of our economy."

The proposed budget seeks to impose a cap of $500,000 on Section 1031 exchanges, potentially hindering investors' ability to engage in larger transactions and diminishing liquidity in the real estate market. Moreover, these limitations could disproportionately impact small businesses and impede overall economic growth.

In response to these concerns, Peak 1031 Exchange is calling on real estate owners and the general public to take action by voicing their support for the retention of IRC Section 1031 like-kind exchanges. Individuals can auto-generate a letter to their congressmember expressing their support for maintaining Section 1031 exchanges by visiting the Federation of Exchange Accommodators (FEA) website at: https://1031buildsamerica.org/take-action/.

For further questions and information on how IRC Section 1031 like-kind exchanges impact investments and business strategies, please contact Peak 1031 Exchange at: www.peakexchange.com.

ABOUT PEAK 1031 EXCHANGE:

Peak 1031 Exchange (https://peakexchange.com/) is a leading national provider of tax-deferred 1031 exchange services. Our services include all like-kind exchanges in accordance with IRC §1031, including Delayed, Simultaneous, Improvement, and Reverse exchanges. We are a qualified intermediary and a member of the Federation of Exchange Accommodators (FEA). Peak 1031 Exchange is a proud part of the Peak Companies, a one-stop resource of comprehensive real estate, financial, and related services.

Joshua Messian
Peak 1031 Exchange, Inc.
+1 818-960-7019
team@peakexchange.com
Visit us on social media:
Facebook
LinkedIn
Instagram

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.