like-kind exchanges

If my tax professor is anything, he is honest:

Professor A: I am forcing you guys to learn about like-kind exchanges for three reasons:

1. I had to learn it, and if it was good enough for me, it’s good enough for you.
2. It’s just torture, and I just enjoy seeing everyone squirm!
3. I think it’s important, whether or not you take any other tax classes, to have some exposure to a tax-free transaction licensed and approved by the tax code.

Other Professor A posts:

• Sports overload.
• You can’t have your cake, and eat it too.
• Way too much seafood.