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Investments you should know about if you want to help your local community

Jun 13, 2018

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Being a local investor comes with so much responsibility when it comes to the community you are part of. Neighbours, friends and families will be reliant on your business when it comes to various aspects of the local community. But if you’re thinking that you could do more about your status and help the community you are part of, below are some great ways to give something back and consolidate the culture and collaboration sense, locally.

 

Tax-deferred investment properties – A great tool in your journey

Whether you want to help poor families in your community with affordable housing options or you want to create a local NGO to help the community you are part of, 1031 exchange property investments are the perfect tool to use when it comes to the necessary material resources. These investments are protected by the IRS and tax-deferred and make a perfect choice for those who want to invest profitably and smartly. You will have to be mindful of some requirements when planning an exchange of this kind, so better consider a close collaboration with a specialised agency to help you in the process. There are some rules you should be aware of, first.

  • These exchanges remain tax-deferred only both properties are “like-kind”, meaning that they have to have a similar market value;
  • The exchange has o fit into a certain timeframe, in order to remain tax-deferred;
  • You cannot enter in money’s possession at any time during the exchange.

These are some of the reasons for which experts claim that relying on the services of a specialised agency will help you make the most of this exchange.

And what are the options you have with such investments? You can swap one of your properties with an apartment building in your area and turn it into a social housing option for the less-fortunate families in your community

You could turn it into your new NGOs’ headquarters or even turn it into an educational centre. The possibilities are endless, truly, when it comes to such exchanges.

How will such measures help my business?

Giving back to the local community is a perfect way to gain publicity and notoriety, but also benefit from further tax deductions for charitable measures. It represents an amazing opportunity for networking and getting in touch with other companies in the area, but also with larger companies that may not be yet located in your community. It will help you create a strong and respected brand image and will help you help others, which in turn will get you local support for your business. While this will bring you plenty of objective advantages, thinking about your community first will make you feel fulfilled and generally better, at the end of the day.

Volunteer work and charitable actions are certainly appreciated in all communities, especially when they are targeted at less-fortunate categories or children. Make sure that you make your local community better while maintaining your business afloat.