Problem
Nabila has a piece of property he has used in his business for 25 years. He is moving his business across the country and needs to get rid of the real estate he currently owns, as he won't be close enough to keep an eye on it.
He bought the land many years ago for $250000, but now it is worth $1,350,000. He would prefer not to pay any taxes this year on the gain of the land, because he needs the money from the sale to reinvest in new property in the new business location.
What the best advise you can provide to Nabila to avoid paying more tax on the gain?