A novel tax strategy is becoming a great alternative to the 1031 Exchange. In truth, this strategy is a potentially viable option that offers more flexibility. Furthermore, it can benefit you if you have a highly appreciating asset besides real estate. Today's guest is Pierce York, and he explains in detail all the nuances of this approach. 

Pierce is a dynamic individual. He's a commercial real estate broker, but now he has a specialty he's passionate about. Pierce helps people exit highly appreciating assets, defer the tax and reinvest the proceeds without relying on a 1031 Exchange. In essence, he provides a tax strategy that will become increasingly popular.  

These are some of the topics we cover during the episode:   

- Definition of 1031 Exchange and its pitfalls

- The tax strategy that is an alternative to the 1031 Exchange

- Why no one heard about this alternative before

- The reason this strategy is getting more traction now

- How to get involved with the company setting up this solution 

People contact Pierce for various reasons, but generally, they have capital gains or a tax state problem. The solution that he presented during the episode is a holistic approach that works well together with other strategies. This knowledge will undoubtedly provide a lot of capabilities for you once you see many options available, even more than the ones you've been told by your financial professionals. Thank you for listening, and keep being phenomenal. 

“[This strategy] gives you all of these freedoms that you wouldn’t normally get with a 1031 or some of these other strategies.” - Pierce York 

In This Episode: 

- Welcome back to another episode of the Limitless MD podcast

- The reason people contact Pierce  

- Definition of 1031 Exchange and its pitfalls     

- The tax strategy that is an alternative to 1031 Exchange     

- Why no one heard about this alternative before

- Most important characteristics of this strategy     

- Time of tax payment with this strategy  

- How to reinvest the profits

- Benefits of keeping the profits in the trust

- The reason this strategy is getting more traction now

- Fees associated with this solution

- How to get involved with the company setting up this solution

- Objections Pierce receives about this strategy

- Timeline for establishing this approach 

Resources: 

- Join our Free community of high-performing physicians: the Physician Wealth Accelerator https://limitless-md.mn.co/

- https://vikramraya.com/programs/

- Sign up to my email list - https://vikramraya.com/

- Apply to work with Vik and book a clarity call here - https://bit.ly/3CXuigz

- Group Coaching Now Open! Apply Here - https://www.theultramd.com/high-achieving-physicians

Connect with Pierce York: 

- Website - https://capitalgainstaxsolutions.com/ 

Connect with Vikram:

- Website: https://vikramraya.com 

- Instagram: https://www.instagram.com/vikramraya/   

- Facebook: https://www.facebook.com/Vikramrayamd

- LinkedIn: http://www.linkwithvik.com

- YouTube: https://www.youtube.com/channel/UCdq9M-kD0L2hy1UlfOK-hwQ

Special Thank You to Music Provided by Music Library https://soundcloud.com/music-library-non-copyrighted-sounds/300-violin-orchestra-jorge-quintero-copyright-and-royalty-free