Outdoor
Understanding Section 1031 Exchanges
By Dal Houston
Farmers, ranchers, and cattlemen in larger numbers are taking advantage of like-kind, or Section 1031 Exchanges. Section 1031 of the Internal Revenue Code allows property owners to defer capital gains on the sale of property when the sales proceeds are properly reinvested in like-kind property.
Although Section 1031 has been around since the 1920s, amendments in the 1980s, and regulations promulgated by the I.R.S. have led to a dramatic increase in their usage. It is important to understand that these transactions are not loopholes but are specifically provided in the statutes and regulations. While many landowners are taking advantage of Section 1031, there are still many misunderstandings and much confusion regarding their use.
Basic Example of Taxable Gain
When appreciated property is sold, the difference between the property’s purchase price and sales price is a capital gain, and therefore subject to capital gain taxes. For example, if a landowner purchased property in 1970 for $100,000, that now has a value of $1,000,000.
The difference of $900,000 is a capital gain and thus subject to capital gain taxes. Please note this does not take into account any deprecation or improvements to the property.
To read more, pick up a copy of the October issue of NTFR magazine. To subscribe by mail, call 940-872-5922.
By Norman Winter | Horticulturist, Author, Speaker
National Poinsettia Day is fast approaching, Dec. 12 to be exact. While I am sure the powers at be wanted a celebratory type of day, from what I have been seeing this year is this may be a deadline day. Have your poinsettias by Dec. 12 or you may not get any.
This most likely applies to poinsettia partners as well. If you are asking what a poinsettia partner is then put on your thinking cap and gather around.
Proven Winners got most of us to thinking partners when they introduced the concept of combining poinsettias with Diamond Frost euphorbias. This is one of the best ideas ever and we now actually have three choices, Diamond Frost, Diamond Snow with double flowers and Diamond Mountain that is the taller of the three.
To read more, pick up a copy of the December issue of NTFR magazine. To subscribe by mail, call 940-872-5922.
By Jelly Cocanougher
How could an animal that lives on the side of the mountain look like he knows the answers to all of life’s most pressing questions? The infinite wisdom of the elusive mountain goat sparks extreme interest. Branches broken and wrapped with hair from an itchy mountain goat, his home shows the best views of Montana. All while welcoming passerbys with a humanized smile.
By Norman Winter | Horticulturist, Author, Speaker
Since fall is the best time to plant trees and shrubs, I want to give a shout out to The Temple of Bloom, seven-son flower. This small tree is like the proverbial ‘tree of life.’
Every pollinator in the neighborhood will find it and hang out as well as those creatures that hunt pollinators. It is like a miniature version of the Serengeti. It has been hard for The Garden Guy to take the camera and binoculars and go indoors for fear of missing some action-packed moments.
It is known botanically as Heptacodium miconioides and you will find it in the Caprifoliaceae or honeysuckle family. Fear not, remember it is not the least bit invasive and keep in mind it is a shrub or small tree. One of the unique aspects of the Heptacodium genus is there are no other species, just the miconioides.
The thousands of white blossoms produced in late summer do impart a tantalizing fragrance. A rare horticultural event takes place once the petals fall.
The Missouri Botanical Garden describes it like this: “Flowers are followed in the fall by an equally showy (if not showier) display: small purplish-red fruits crowned by very showy rose-pink calyces which elongate after bloom and last into fall.” The fall display looks much more red than pink to me, but perhaps it’s determined by climatic conditions.
To read more, pick up a copy of the November issue of NTFR magazine. To subscribe by mail, call 940-872-5922.
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