Some investors seem to enjoy paying taxes on their real estate sale profits. I don't. As a smart real estate investor, I hope you don't either. I still occasionally get letters from readers who say their real estate broker, their CPA or their attorney advised them to sell their investment or business property and pay the capital gain tax instead of making a tax-deferred exchange. For some unexplained reason, realty investors and their tax advisers in a few states have been the last to catch up and understand the huge benefits of tax-deferred property exchanges. I still remember receiving a letter, about two years ago, from White Plains, N.Y., where the investor said her CPA told her tax-deferred exchanges are "experimental" and haven't been tested yet in court! Just for the record, tax-d...
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