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Note that the "Basis" is the original property Basis so the loss is not based on an amount lower than the acquisition cost of the replacement property but lower than the basis of the original property. This somehow different than having personal, S corp or LLC type enterprises where one has a...

You are overlooking another crucial factor. Traditional mortgage lenders must be adequately collateralized. This collateral is typicaly Real Estate. They won't accept "Goodwill" as collateral. They therefore need the purchase price allocated to real estate in a sufficient loan to value...

Since it is the IRS tat sets the regs. If they did not want to allow this tax deferrence method they could eliminate the reg. Instead in recent years they added to them by providing for reverse exchanges. They could also simplify it by eliominating the extra paperwork and just impose the 45/180...

Uh, no, that is not it.

Don't know where "Debt reduction" comes in. Example: Scenario. Property costs $1 Million and still has a $500K mortgage. Seels for $2 Million so $1.5 Million goes into the exchange and is used to by a property for $3 Million. It is irrelevant if the $1.5 Million balance of the new purchase is...

The IRS is very patient. They wait for the ultimate sale or the person dying out of it and it becomes part of estate tax calculations. .

This is not correct. when the "Sale" occurs, Seller cannot have control of the $ (net proceeds) it is held by a Qualified intermediary, then the intermediary is directed to acquire the new property with the proceeds. The new property can be financed as well, and it ma have to have finacing to...

There is another reason - outside of cost that businesses don't take CC. It has to do with reporting income.

Not likely it happened at the wash. Possible causes. Under carriage got moved somehow. Something fell off another vehicle and got lodged under this one. If it was caused by the wash it would (sadly) hapen a bunch of times.

You have made some invalid / impossible assumptions. 1. You can't assume the $1 Million Profit is goodwill. Buyer and Seller have competing interests in how they allocate a Purchase Price between Real Estate, Depreciable items, and intangibles. They both fill out a coordinating IRS form for...

If I had electricity to them it might be an option.

And per MJ - Number of receptacles. Lets see: Transaction volume yes. Why does this make a differemce. Is the fixed monthly cost really an issue? I thought it as only the per ransaction cost. Lower transaction values? Why does it matter? Net profit effect per transaction is lower. Lets...

Interesting - You consider 1031 Exchanges tax evasion? I may be wrong but the term "Evasion" seems to imply an unlawful method.

What % of the following don't take CC?: SS Gas stations. IBA Washes Auto attendant Tunnel washes The SS wash business is different because...?

Yep, you are over thinking it. All money you recieve is income. All else is something else. When you get $ for tokens it's income irrespective if the token is used immediately, later or never. Like PLJ says, you can keep tack of other stuff to keep a handle on expenses (i.e. solutions or...

Not familiar with this unit. Does the coin switch itself have 2 or 3 terminals. If it has 3 I can't help but wonder if you are using an incorrect one.

IMO token use should no be counted as income. Only $ you recieve from whatever source is income. You sell tokens. The purchase cost is cost of goods sold like water, soap etc. Any time you write a check (or pay with credit card) to buy a supply of tokens it's a cost of goods sold expense...

"Proper" financials may or may not help. Person may not be reporting all revenue or they may funnel revenue from another business to boost the value. A 15 mile no comp radius may be reasoneable in less developed areas, but in heavily populated areas thats an unreaseonable distance. So...

AFAIAC Pretty much a non issues vis a vis dollar coins vs. quarters since Bill acceptors take $1, $5, and even an occasional $10 Bill. I estimate coin usage became 50% of revenue once we installed Bill acceptors. Now with credit cards it's a smaller percentage.

Costco systems work great to see if anything unusual happens but I think it's difficult to cover every square inch of a car that's dirty and see what might be revealed when it's clean. Some claims of marks or scratches can only be seen when the car was clean, you look at it in the right light...