The former chief executive officer of U.S. Advisors, Kevin Fitzgerald currently serves as CEO of Global Capital Advisors LLC in San Francisco. As the organizational leader of U.S. Advisors, Kevin Fitzgerald sponsored real estate transactions involving Section 1031 exchanges.

1. SECTION 1031
EXCHANGES
EXPLAINED
Kevin Fitzgerald, U.S. Advisors

2. Introduction
 The former chief executive officer of U.S. Advisors,
Kevin Fitzgerald currently serves as CEO of Global
Capital Advisors LLC in San Francisco. As the
organizational leader of U.S. Advisors, Kevin
Fitzgerald sponsored real estate transactions
involving Section 1031 exchanges.
According to the tax code set forth by the Internal
Revenue Service, individuals must pay taxes on any
financial gain derived from the sale of business or
investment properties. If the seller reinvests the
proceeds from a sale in a similar property, he or she
can defer paying taxes under the provisions of Internal
Revenue Code Section 1031.

3. Section 1031 Exchanges
 To qualify for tax deferral under Section 1031,
an individual must reinvest funds in a like-kind
replacement property. The definition of “like-
kind” properties is considerably broad,
allowing sellers to exchange agricultural land
for a commercial development or even
swapping one business for another. Sellers
must designate a new property within 45 days
of selling the old property and close on it within
180 days.