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Can we use this tax break to buy a rental property in Florida?

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Q. We own three rental properties here in New Jersey that are being deprecated accordingly. We are thinking about purchasing a place in Florida, keeping our primary home in New Jersey for now. What do we need to do to set up a 1031 exchange with one or more of these properties depending on what we find.— Thinking about itA. We’re glad you asked because Section 1031 exchanges can be complex and nuanced.Named for its IRS code, a 1031 exchange is basically a swap of one investment property for another in which you’re allowed to defer capital gains taxes.You can exchange the multiple investment pr…

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Here’s how bad things are for Trump after the Supreme Court ruling: columnist

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In a piece for Vanity Fair, columnist Eric Lutz addressed the degree to which President Donald Trump is in trouble after the ruling by the Supreme Court on his financial records.

Trump has spent the better part of four years fighting any transparency about his finances and taxes, which many have suspected might reveal illegal activity.

"He's not going to release his tax returns," said senior adviser Kellyanne Conway in 2017. "We litigated this all through the election. People didn't care."

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Trump gets advice from golfing buddies and right-wing Twitter as America faces a ‘crisis of truth’: op-ed

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Writing in the Washington Post this Thursday, columnist Michael Gerson contends that President Trump is running the country through the prism of the "right-wing information bubble."

"Trump is not only using this right-wing information bubble to exploit his supporters," Gerson writes. "He also seems, increasingly, to have taken up residence there. As his failures have multiplied, his hold on political reality has loosened. Trump has become our boy in the bubble, with an intellectual immune system too weak for him to survive exposure to reality."

All sources of dissent and critical thinking have been removed systematically removed from his administration -- — posts formerly held by Rex Tillerson, James Mattis and Dan Coats, have now been replaced by sycophants, according to Gerson.

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‘Another hoax’: Trump whines and rambles about Supreme Court and New York in latest meeting

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After spending most of the day whining on Twitter, President Donald Trump spoke to the press from the White House Thursday afternoon to call questions about his taxes and financial documents a "witch hunt."

Trump has used the term to reference the Russia scandal, the Ukraine scandal, cases against Lt. Gen. Michael Flynn, his friend Roger Stone and any other topics he chooses on any given day.

"Do you have a reaction to the Supreme Court rulings today?" asked a reporter that sounded like CNN's Kaitlan Collins.

"The rulings we're basically starting all over again," Trump said. "This is a political witch-hunt... it's a witch-hunt, it's a hoax, just like the Mueller investigation... this is purely political..."

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