Burns 1031 Tax Deferred Exchange Services, LLC

Burns 1031 Tax Deferred Exchange Services, LLC is a Tax Attorney in Tacoma, WA. The firm guides investment property owners through 1031 tax-deferred exchanges, allowing clients to defer capital gains taxes by reinvesting sales proceeds into properties of equal or greater value within specific time frames. Attorney Martin Burns uses his legal accounting background and knowledge of transaction structure to facilitate these transactions. He serves clients throughout the Tacoma area, including residents of Seattle, Bellevue, and Olympia, as well as clients from most other states. The business holds a 5.00 rating based on customer reviews.

Martin Burns has over 20 years of experience in 1031 tax exchanges and owns Burns Law, PLLC, where he practices real estate and business law. Burns 1031 Services acts as a qualified intermediary, handling the two key elements of a successful exchange: the exchangor and the professional facilitator. The process involves the exchangor assigning the sale contract to the intermediary, who holds the funds. The exchangor must identify a replacement property within 45 days and complete the purchase within 180 days of the relinquished property's closing. Burns 1031 provides appointments for personal assistance rather than relying solely on online transactions. Client funds are held in their own account, not pooled with other clients, and are viewable at any time.

The firm handles various exchange types, including reverse exchanges where an LLC acts as an Exchange Accommodation Titleholder to hold property for up to 180 days. They also manage improvement exchanges, holding title through an LLC to fund improvements within 180 days of acquisition. Burns 1031 can establish an LLC to facilitate these complex transactions. The IRS approves 1031 exchanges under Section 1031 of the Internal Revenue Code, provided the exchange is structured correctly with like-kind real property. Primary residences generally do not qualify unless specific ownership and residency requirements are met.

The business is known for its positive rating from the customers who have reviewed it. Martin Burns combines a background in accounting, law, and exchange services to review transactional documents and ensure clients are on track toward their desired outcomes. He offers free consultations to discuss reasonable fees and determine if a 1031 exchange is suitable for a client's situation.

Attorney Martin Burns brings over two decades of specialized experience in tax-deferred exchanges to Tacoma investors, providing the legal and accounting expertise needed to navigate complex property transactions.

The firm is situated on Center Street in Tacoma, WA, just a short distance from South Union Avenue and Oakland Alternative High School. It is also located near the Tacoma Schools government office and State Route 16.