As the Holidays rapidly approach us, I wanted to take a moment and thank you all for your business, your loyalty, and your work this past year. 2018 was a very busy year in the real estate industry, and I hope you find time to unwind and spend quality time with your family and friends this Holiday season.
2019 marks API’s 29th year in business! In reflecting on those 29 years, I am reminded of all those who have made API such a remarkable company.
I am very fortunate to work with wonderful clients and excellent associates, and I am truly grateful for that.
As I look to the New Year and what will soon be API’s 30th anniversary, I’m committed to continuing our culture of excellent service and of being a valuable asset to you in obtaining your goals.
May this message find you well and with an open heart and mind to make the upcoming year the best it can possibly be.
Javier G. Vande Steeg, President
New Location, Same Excellent Service
Right before 10-31 day, Asset Preservation’s National Headquarters moved into a much larger office space to help accommodate additional exchange counselors and other support staff and maintain Asset Preservation’s commitment to exceptional service nationwide. Effective October 29, 2018, the new address for the National Headquarters is 1420 Rocky Ridge Drive, Suite 380, Roseville, CA 95661.
All other phone numbers and other information will remain the same.
Important Information for Investors Beginning a 1031 Exchange
From October 17 – December 31, 2018
Do Not File Your 2018 Income Tax Return Until Your Exchange Has Been Fully Completed.
The time frame you have to complete the acquisition of your replacement property ends at midnight on the earlier of the 180th day after the date you transferred the relinquished property OR the due date (including extensions) for your income tax return for the taxable year in which the transfer of the relinquished property occurs. (U.S. Treasury Regulations section 1.1031(k)-1(b)(2)).
This means, if the 180th day following the closing of your first relinquished property falls after the due date for your 2018 tax return (this year, for individuals, April 17, 2019) you must file an application for extension of time with the IRS to extend the due date. If you do not file for an extension, you will NOT be able to acquire any replacement property in your exchange after your tax return due date.
Remember: If your exchange is not completed by the due date of your tax return —
FILE AN EXTENSION.
If you have any questions, please call your Exchange Counselor at
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Asset Preservation would appreciate the opportunity to work with you on your next exchange regardless of how simple or complex. Give us a call at 800-282-1031 with any 1031 related questions or Ask a Question online.
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