There are many ways to manage your finances to get the most out of your money. Here are just a few tips for everyone from experts to those just starting out on their own. Manage your money the right way, and youll definitely profit from it.
Consider a 1031 tax exchange. If you sell an asseta commercial building or property, usuallyyou can avoid paying taxes on the profit if you invest your money in a similar building or property within 45 days. You can perform this transaction with residences as well, as long as the property is specifically for investment or business purposesyou cant live there. The exchange must be made with another property of like kindthe transaction is also sometimes called a like kind exchange for this reason. Its a good way to defer taxes on some serious profits.
Consider a credit union. Credit unions do all the same things banks doprovide loans, money markets, checking accounts, etc.but they are not-for-profits. This translates into fewer fees; most credit unions wont charge a monthly upkeep fee to your checking account, as many banks do. It also means freebies: most credit unions offer free checking. In addition, youll generally get...
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