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The Basics of a 1031 Exchange

Here, we discuss a Section 1031 Exchange used for investment or business purposes (note: this is not applicable if used as a primary residence). Basic Rule: IRC Section 1031 provides an exception and allows you to postpone paying tax on the gain if you reinvest the proceeds in similar property as...
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How to Deal with Student Loans

It is a worst case scenario: you are out of school, but you haven’t found a job yet. You just received your first letter from your student loan servicing company, “welcoming” you as a customer, but all you see is the amount due – and you cannot afford it. It...
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Extension of Mortgage Debt Relief Act 2014

Great news! Congress has (finally) passed a package of tax extensions approved by the U.S. House and Senate — currently headed to the President’s desk for signature — which includes important provisions that will help distressed homeowners and commercial property investors with transactions made during 2014. See original article here....
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Large Auto Accident Verdict

This past Wednesday, a large $1.13 million verdict was reached in a lawsuit for an auto accident in Washington State. Our firm is lucky to be a part of the Washington State Association of Justice (WSAJ) and received the facts surrounding the case. The law firm and the plaintiff will...
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What is Subrogation?

Subrogation is one of those legal terms that gets people’s heads spinning. Here, we try to simplify the term as best as possible. In the context of a lawsuit or claim, subrogation is essentially the means through which an insurance company, or any other party, steps into the shoes of...
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Negligence Laws at a Glance

Negligence Defined Negligence is the failure to exercise an expected degree of care, leading to another individual’s injuries. For example, a motorist who fails to wear his glasses (as required by his driver’s license) and then causes an injury accident may be found negligent and thus, liable for the other party’s...
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