CREW Las Vegas January 2020 Luncheon Avoid Taxes with 1031 Exchange
Posted January 20, 2020 CREW LV Blog
The first meeting of 2020 with our wonderful new CREW Las Vegas President, Carol Cline-Ong presiding at our new luncheon location, Lawrys The Prime Rib. Carol welcomed first time guest and first time members. The entire chapter thanks our amazing sponsors and appreciates all that our sponsors do to make our chapter possible.
Carol reminded us all that we gain nuggets of wisdom and can make so many connections in our amazing chapter. Magic will happen if we all work together! Carol stated that she and the board promise to listen to the members so please let them know any suggestions or thoughts throughout the year.
Golf Event Committee
Brendan Graves reported that 2019 enjoyed record breaking attendance at the golf event and over $10,000 was raised. Please mark your calendars for June 12, 2020 when the annual golf event will be held again at Siena Golf Course.
Brittany Brown reminded us that 2019 was an amazing year for social activity and 2020 will prove to be even better. Between bowling, golf lessons and a fabulous mixer, please be sure to take advantage of the wonderful activities being planned.
Melissa Campanella said she needs committee members. Why? Because Las Vegas will be hosting the 2021 CREW Las Vegas Convention and we will need all of the help we can get to make ourselves the best host/hostesses possible. It will take a much larger committee to begin working on all of the planning and execution for 2021.
Maria Herman announced April 23 2020 is the Annual Charity event, which is planned to be held at the Spanish Trail Country Club. Please mark your calendars!
Kari Golden, not only oversees our finance committee, but she is now participating in Community Outreach. Kari said the committee is busy making plans for quarterly events, in addition to ensuring the Paradise Elementary class is well cared for throughout the year. Please look for our next Paradise Elementary Book Drive to be announced shortly.
Carol Cline-Ong introduced Maria Herman, who graciously offered to help as Tonya Wagle had a family emergency. Wishes are being sent to Tonya and her family during this time.
Maria Herman – Moderator
Sheila Long, Old Republic Exchange
Lori Greymont, SJREI
1031 Exchange is for investor clients.
1031 Exchanges are for like-kind properties.
Personal property does not qualify for a 1031 Exchange.
Vacation homes rented for at least 14 days per year and held for 2 years can qualify.
A reverse exchange is you buy first, then sell relinquished property.
Installment sale is another solution to avoid taxes.
Avoid buying at top of market with an installment sale.
Depreciation is key advantage to shelter income.
Installment sale defers taxes for 30 years.
The January 2020 purse raffle was held and Chris Hunter made the presentation to Kari Golden, the lucky winner of the lilac bag. Thanks to our board member, Carol Cline-Ong for purchasing the bag. All proceeds of our monthly raffles go to help CREW LV defray costs and contribute to our charitable activities. We truly appreciate all of you who purchase raffle tickets.
Carol’s Quote January 14 2020
I learned to always take on things I’ve never done before. Growth and comfort do not coexist. – Ginni Rometty, CEO, IBM
Reminder NEW LOCATION:
Lawry’s The Prime Rib 4043 Howard Hughes Pkwy, Las Vegas NV 89169
Register for all events here.
Tuesday February 11 2020
Tuesday March 10 2020
Photo credit to Adrienne AngeloOld Republic ExchangeSheila LongSJREI Lori Greymont
of Dragonfly Portrait Design for
this month’s photos.