Ways to Save Capital Gains Taxes
Without a 1013 Exchange
Have you ever wondered what wealth management firms really do?
Top Orlando Realtors Scott Garrison & Diana Sacoto sat down with Steve Ruff and Stephen Vettorel from locally-owned First Down Financial to answer an important question:
Why should you hire a Local, fee-only portfolio manager or retirement income advisor? The answer is simple and could save you a lot of money.
From Full-Service to Fiduciary
First Down Financial is a full-service firm that handles everything from asset management and retirement planning to tax strategies and annuities. “We cover the full picture,” explains Stephen Vettorel.
Never Too Early, Always Worth It
Think you don’t have enough money to work with a financial advisor? Think again.
“ You’re never too early to start,” says Steve Ruff. First Down Financial often begins by helping clients with a simple term life policy or a basic financial strategy. They also work with families who are just starting out, even those with as little as a $5,000 IRA.
Zero-Fee Planning
Need a review of your current portfolio or an estate overview? First Down Financial offers free consultations and, in many cases, zero-fee planning. They’re often compensated directly by insurance carriers for annuity and life products.
“We think it’s tremendous value,” says Stephen Vettorel, explaining that their strategic and tactical management approach is designed to outperform the market with less risk, providing clients with value that far exceeds the cost.
Real Estate Riches: A Tax-Saving Huddle
For real estate investors, First Down Financial provides a smart strategy to help reduce capital gains taxes.
Many people sell a highly appreciated rental property and use a 1031 exchange to defer those taxes, but that requires purchasing another property.
First Down Financial offers more flexible, tax efficient strategies, especially if your goal is to leave a lasting legacy for your family or a charitable cause.
- Charitable Remainder Trust (CRT): Sell your property within this type of trust to avoid capital gains taxes while still having access to the funds during your lifetime.
- Delaware Statutory Trust (DST): A legal entity that meets IRS 1031 exchange requirements but offers greater investment flexibility, including a cash-out option, without requiring you to buy another rental property.
- Annuity Strategies: Certain annuities include bonuses that can even reimburse part of the capital gains taxes you paid on the sale.
“If you’re selling a rental property and don’t want to pay the taxes, just call us. We can help you save a significant amount,” says Steve Ruff. The cost to set up these strategies is usually minimal compared to the potential tax savings, which can reach tens or even hundreds of thousands of dollars.
Whether you’re selling a highly appreciated rental property, planning to build a lasting legacy, or looking to protect and grow your wealth, one thing is clear: having a strategic financial partner and trusted real estate professionals like RE/MAX Realtors Scott Garrison and Diana Sacoto makes all the difference.