1031 exchange allows the deferral of gain when selling and reinvesting in business use or investment property. This century-old tax strategy has long been used to help business owners relocate or expand their business and plan an exit strategy. President Biden has proposed capping the deferral allowed under Section at $500,000 per year. Our session will provide a brief overview of 1031 exchanges, their benefits to investors and business owners, and the requirements of a successful exchange. We will also talk about the proposed changes and how they could impact your planning.