1031 News Blog

Who is disqualified from facilitating a 1031 like-kind exchange?

Creation of the Role of Qualified Intermediary in the Treasury Regulations

Prior to the Internal Revenue Code Section 1031 Treasury Regulations issued in 1991 governing exchanges, it was difficult to arrange for the taxpayer’s buyer to actively participate in the taxpayer’s exchange transaction. It could not be accomplished without the buyer’s significant involvement. However, buyers were not typically motivated to assist in the seller’s attempt at tax deferral. The 1991 regulations sought to deal with this thorny problem by creating a new entity known as a qualified intermediary (QI).

The QI would serve as an intermediary to whom the...

AED Financial/HR Symposium 2017, April 26-28

Accruit is participating in the AED Financial/HR Symposium 2017 in Miami this week where equipment distributors will be learning about best practices, receiving regulatory and legal updates, and discussing the latest ideas in the areas of finance and human resources.

Among the speakers at the conference will be Commander Kirk S. Lippold, of the United States Navy, who was the commanding officer of the USS Cole on October 12, 2000, when the ship was bombed by Al-Qaeda terrorists. An exemplary leader in the face of extreme circumstances, Commander Lippold will speak about the Five Pillars of Leadership.

Accruit's Vice President of Service Operations, Steve Chacon, will speak on the topic of dealer pass throughs, in which equipment owners combine trade-in treatment with ...

AED Washington Fly-In 2017, April 4-6, 2017

Earlier this month, as part of Accruit's ongoing advocacy efforts, I attended the Associated Equipment Distributors (AED) 2017 Washington Fly-In, an opportunity for AED members to actively participate in the legislative process on important issues. Tax reform is one such issue, along with the preservation of Section 1031 like-kind exchanges and the benefit they represent to the industry and the economy.

Our fly-in agenda was packed with meetings with legislators, all of whom play an influential role in the direction that tax...

Reduce Tax Exposure on Heavy Equipment Sales

For owners of heavy equipment, replacing or upgrading is a necessity. Newer, faster, more powerful machinery helps expand your capabilities and increase your operating efficiencies, and it allows your crews to operate more safely. For a lot of businesses, this means a trip to your preferred equipment dealer to trade in your old iron for new iron. However, if you’re not exploring all of your options, you could be missing out on the chance to maximize your buying power by reducing your exposure to the taxes associated with such transactions.

Trade-in Treatment

Most equipment owners understand the benefit of trade-in treatment. Instead of selling your old equipment to a third party for cash, you trade the equipment in to the dealer who then applies the value toward the purchase price of new equipment. This approach allows a permanent reduction of the sales tax liability related to the replacement equipment. Trading in equipment is a simple and great value-add for equipment dealers, but how much is the equipment owner truly saving?  Remember that your trade-in...

Accruit Announces Promotion of Tracey Wilson to VP of Business Solutions

Denver, Colorado – April 5, 2017

Accruit, LLC, a nationwide financial technology company and provider of qualified intermediary and escrow services, today announced the promotion of Tracey Wilson to vice president of business solutions.

Wilson joined Accruit as director of exchange programs and projects with the company’s acquisition of North Star ...

Accruit’s Edwards Featured at Continuing Legal Education Seminar

Last month, Accruit EVP and General Counsel, Martin Edwards, was the featured speaker for ATG Trust’s accredited Continuing Legal Education series. Edwards’ presentation, “Section 1031 Exchanges - The Basics and Beyond,” was one of the highest attended ATG Legal Education seminars ever. The presentation material included subject matter expertise accumulated during Edwards' 30+ years of administering tax-deferred exchanges. Topics included:

  • The basic rules of § 1031 exchanges;
  • The types of exchanges available to your clients;
  • Properly structuring § 1031 exchanges to meet your clients' specific needs; and
  • Strategies for deferring as much capital gain taxes as possible.

The webinar is available to attorneys and non-attorneys on-demand and at no cost through the ATG Legal Education portal. For login information, please email info@accruit.com

Accruit & PwC Participate in AED Washington Fly-In, April 4-6, 2017

Soon, Congress will propose sweeping tax reform legislation. The new tax policies will have a direct bearing on the heavy equipment industry and play a big role in how equipment dealers operate.

Accruit and PwC will again join the effort as the AED's Preferred Providers of Like-Kind Exhanges to advocate on behalf of AED members for sensible, pro-growth tax policies that benefit American businesses. Accruit CEO, Brent Abrahm, and PwC Tax Partner, Dave Fowler, will spend the three days at the ...

Video: 1031 Property Improvement Exchanges

Paul Holloway explains how improvements made to the replacement property can be part of your 1031 ...

FEA 2017 Mid-Year Meeting and Hill Visit, February 27 - March 1, 2017

Tax reform is on the horizon, but little is known about what shape that will take or when it will take place. Few of our elected officials have ever run a business, so it is our responsibility to educate them on how tax reform may impact American businesses and the economy as a whole. Like-kind exchanges benefit millions of American investors and businesses every year, encourage business expansion and help keep dollars moving in the U.S. economy.

FEA President, Steve...

Is Early Release of Exchange Funds Possible Under 1031 Exchange Rules?

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