Washington Exchange Services, Inc.

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Contact Info

  • Location 19633 109th Pl NE, Bothell, WA 98011, USA
  • Phone +1 206-522-1031
  • Website http://www.freetaxexchange.com/

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About Washington Exchange Services, Inc.

For property owners and investors in Washington, understanding and effectively utilizing tax-deferred exchanges, often known as 1031 exchanges, can be a cornerstone of strategic wealth management. These complex transactions, governed by Section 1031 of the Internal Revenue Code, allow taxpayers to defer capital gains taxes when they exchange one investment property for another "like-kind" property. Navigating the intricate rules and strict timelines of a 1031 exchange requires specialized knowledge and the assistance of a qualified intermediary. This is where Washington Exchange Services, Inc., located in Bothell, WA, comes into play, offering decades of dedicated experience in facilitating these crucial financial maneuvers.

Washington Exchange Services, Inc. was one of the first companies formed in Washington State with the specific purpose of acting as a qualified intermediary (QI), also known as a facilitator, for individuals, partnerships, trusts, corporations, and limited liability companies engaging in real and/or personal property tax-deferred exchanges. Since its inception, the company has been a trusted resource, providing essential guidance and services to ensure compliance with IRS regulations and to maximize the tax deferral benefits for their clients. Their long-standing presence underscores their expertise and reliability in this highly specialized field.

The founder and president, Richard T. Morse, is an attorney at law, admitted to practice in Washington State, the United States District Court for the Western District of Washington, and the Ninth Circuit Court of Appeals. His extensive legal background, including graduating magna cum laude from Seattle University and from the University of San Francisco's School of Law, provides a robust foundation for the services offered. Mr. Morse is also a member of the Washington State Bar's real property, trust, and probate section and has frequently taught continuing education classes on tax-deferred exchanges for attorneys and real estate agents, demonstrating his deep expertise and commitment to educating others in the industry.

For local users in Washington contemplating the sale or acquisition of investment properties, understanding the nuances of a 1031 exchange can be crucial for financial planning. Washington Exchange Services, Inc. serves as a vital partner in this process, ensuring that the transaction is structured correctly to meet IRS requirements and achieve the desired tax deferral. Their focus on this specific area of law and finance means that clients receive highly specialized and informed guidance, which is often indispensable when dealing with significant real estate and personal property investments.

Location and Accessibility

Washington Exchange Services, Inc. is conveniently situated at 19633 109th Pl NE, Bothell, WA 98011, USA. This location in Bothell places the firm within easy reach for property owners, investors, and their advisors throughout King County and the wider Western Washington region. Bothell is a thriving community known for its accessibility and strong local infrastructure, making it a practical and convenient destination for clients seeking specialized financial and legal services.

The office's specific address on 109th Pl NE is nestled within a well-established area of Bothell, allowing for straightforward navigation. For those traveling by car, the location provides reasonable access from major roadways that connect Bothell to Seattle, Bellevue, Everett, and other neighboring cities. While detailed information about on-site parking is not publicly specified, being in a suburban area typically means more convenient parking options compared to dense urban centers, which is a definite advantage for clients visiting the office for consultations.

While Washington Exchange Services, Inc. primarily focuses on facilitating 1031 exchanges, their role as a Qualified Intermediary means many interactions can be conducted remotely. However, for local clients in Washington who prefer face-to-face meetings or need to drop off documents, the Bothell office offers a tangible and accessible point of contact. This local presence underscores their commitment to serving the Washington community with personalized and expert guidance in tax-deferred exchanges.

Services Offered

  • Qualified Intermediary (QI) Services: Washington Exchange Services, Inc. acts as a Qualified Intermediary (QI), also known as a facilitator, for tax-deferred exchanges. In this role, they hold the proceeds from the sale of the relinquished property and use those funds to acquire the replacement property, ensuring compliance with IRS regulations under Section 1031.
  • Exchange Accommodation Titleholder (EAT) Services: For reverse exchanges, where the replacement property is acquired before the relinquished property is sold, Washington Exchange Services, Inc. is capable of acting as a client's Exchange Accommodation Titleholder (EAT). This highly specialized service is crucial for structuring complex reverse exchanges correctly.
  • Facilitation of Various Exchange Structures: The company assists with different types of 1031 exchanges, including simultaneous exchanges (where the sale and purchase occur at the same time), delayed exchanges (the most common type, with specific timelines for identification and acquisition), reverse exchanges, construction (improvement) exchanges, and multi-asset exchanges. This comprehensive capability allows them to cater to a wide range of client needs and property types.
  • Real Property Tax-Deferred Exchanges: They facilitate exchanges for various types of real property held for productive use in a trade or business or for investment purposes. This includes commercial properties, residential rental properties, land, and other real estate assets.
  • Personal Property Tax-Deferred Exchanges: Although less common after recent tax law changes affecting most personal property, Washington Exchange Services, Inc. has historical expertise in facilitating exchanges for certain types of personal property that may still qualify under specific circumstances.
  • Educational Resources and Consultations: Richard T. Morse, the president, has taught numerous continuing education classes concerning tax-deferred exchanges for Washington State attorneys, real estate agents, and the general public. This indicates a commitment to educating clients and industry professionals on the intricacies of 1031 exchanges.
  • Structuring Complex Exchanges: They provide guidance on structuring exchanges in various ways, depending on the client's unique goals and circumstances. This includes navigating the complexities of different identification rules and timelines.

Features / Highlights

  • Pioneer in Washington State: Washington Exchange Services, Inc. was one of the first companies formed in Washington State specifically to act as a qualified intermediary for tax-deferred exchanges, demonstrating their foundational role and long-standing expertise in the field.
  • Experienced Leadership: The company is led by Richard T. Morse, an attorney at law with a distinguished legal career dating back to his admission to the Washington State Bar in 1982. His academic background and extensive experience in real property, trust, and probate law underpin the firm’s specialized services.
  • Specialization in 1031 Exchanges: Unlike general law firms, Washington Exchange Services, Inc. maintains an exclusive focus on tax-deferred exchanges. This specialization ensures that clients benefit from in-depth knowledge, up-to-date information on IRS regulations, and practical experience specific to these complex transactions.
  • Comprehensive Exchange Services: They are equipped to handle all common types of 1031 exchanges, including simultaneous, delayed, reverse, and construction exchanges, providing flexibility and tailored solutions for diverse client needs.
  • Commitment to Education: Mr. Morse's history of teaching and providing seminars on tax-deferred exchanges highlights the company's dedication to informing and empowering clients and other professionals, underscoring their authority and expertise in the subject.
  • National Reach with Local Expertise: While based in Bothell, WA, the company has served taxpayers throughout the United States for over two decades, indicating their capability to handle exchanges beyond state lines while maintaining a strong local presence and understanding of Washington-specific real estate nuances.
  • Focus on Communication: Their overview emphasizes the importance of choosing a qualified intermediary with whom clients can comfortably and effectively communicate, suggesting a client-friendly approach where questions are welcomed and advice is clearly explained.

Promotions or Special Offers

Washington Exchange Services, Inc. does not explicitly advertise ongoing promotions or special offers in publicly available information. In the highly specialized field of 1031 exchanges, the value proposition typically lies in the expertise, precision, and reliability of the qualified intermediary service, rather than promotional pricing. The successful execution of a 1031 exchange can result in significant tax deferrals, making the cost of the service a wise investment for eligible clients.

When engaging with a qualified intermediary, it is always recommended to inquire about their fee structure and any initial consultation policies. While free consultations are common in some legal areas, firms specializing in complex financial transactions like 1031 exchanges may operate differently. Clients should prioritize the firm's experience, ability to navigate IRS regulations, and track record of successful exchanges, as these factors directly impact the crucial tax benefits they seek to achieve.

Contact Information

  • Address: 19633 109th Pl NE, Bothell, WA 98011, USA
  • Phone: (206) 522-1031
  • Mobile Phone: +1 206-522-1031
  • Website: https://www.freetaxexchange.com/

Conclusion: Why this place is suitable for locals

For residents and investors in Washington, particularly those engaged in real estate and personal property transactions, Washington Exchange Services, Inc. is an exceptionally suitable partner for navigating the complexities of 1031 tax-deferred exchanges. Their long history, dating back to being one of the first companies formed in Washington State for this specific purpose, immediately establishes them as a pioneer and authority in the field. This deep-rooted experience means that local clients benefit from decades of honed expertise in understanding and executing these intricate financial strategies.

The leadership of Richard T. Morse, an attorney with a comprehensive legal background in Washington law, provides an additional layer of confidence and professionalism. His active involvement in educating other legal and real estate professionals on 1031 exchanges underscores his profound knowledge and commitment to the subject. For Washington property owners, having a qualified intermediary led by a local attorney who understands the state's legal and real estate environment is an invaluable asset.

Furthermore, the company's singular focus on 1031 exchanges, coupled with their ability to facilitate all types of exchange structures—from simultaneous to complex reverse exchanges—ensures that they can cater to a diverse range of client needs. This specialization means that clients receive highly focused and accurate advice, crucial for compliance with strict IRS regulations and the successful deferral of capital gains taxes. The convenient Bothell location offers a practical point of contact for those in the greater Puget Sound region, making it accessible for direct engagement when needed.

In essence, Washington Exchange Services, Inc. offers a unique combination of historical significance, expert legal guidance, specialized focus, and local accessibility, making them an ideal choice for anyone in Washington seeking to understand and leverage the benefits of a 1031 tax-deferred exchange for their investment properties. Their unwavering dedication to this niche ensures that clients are well-supported in achieving their financial objectives.

Washington Exchange Services, Inc. Location

19633 109th Pl NE, Bothell, WA 98011, USA

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