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Advocacy

Home / Blog » Advocacy

FEA Meeting with Representative Raja Krisnamoorthi

on Tue, 04/10/2018 - 15:49   Mark Flanagan
Federation of Exchange Accommodators

On Friday, March 30, Accruit's Martin Edwards and Jordan Born joined other members of the Federation of Exchange Accommodators (FEA) in a meeting with Rep. Raja Krishnamoorthi (D-IL-8) to discuss 1031 like-kind exchanges and their value to economy.

Like-kind exchanges have persisted in the tax code for nearly 100 years because of their benefits to the United States economy and to the local economies in which they are transacted. Economic studies by Ernst & Young and Ling & Petrova underscore the potential...

Retain Like-Kind Exchanges in Tax Reform - Op-Ed

on Thu, 11/09/2017 - 08:29   Mark Flanagan
Like-Kind Exchanges Enable Small Business, Stimulate Economy - Op-Ed

Excerpted from the Denver Business Journal, "Beware changes in 'like-kind' transactions under proposed federal tax reform":

Rarely do the interests of small businesses owners and a broad range of local entrepreneurs agree with almost a century of federal income tax policy – especially when it results in billions of dollars in taxes being paid.

But luckily for the economy, they do.

The trouble is, this powerful economic driver is now in real danger as Congress and the Trump Administration grapple with the twin dilemmas of tax reform and a threadbare federal budget that would put such long-term investments and incentives at risk.

Read Accruit CEO Brent Abrahm's op-ed at the Denver Business Journal

Five Years of 100% Expensing Not Worth Repeal of Like-Kind Exchanges

on Thu, 11/02/2017 - 15:46   Brent Abrahm
Five Years of 100% Expensing Not Worth Repeal of Like-Kind Exchanges

The new tax bill unveiled today by House Republicans proposes to repeal like-kind exchanges for personal property. In its place, the bill provides for 100% expensing of property, however this provision is only temporary, sun-setting after five years. 100% expensing may be extended, as other unrelated provisions have in the past, but the uncertainty makes long-term planning difficult for businesses.  

As I have argued for years on the Hill, like-kind exchanges are a matter of tax timing and not...

Capitol Hill Visit and the Unified Framework for Tax Reform

on Thu, 10/05/2017 - 14:21   Mark Flanagan
AED Vice President of Government Affairs Daniel Fisher and Accruit CEO Brent Abrahm

Last week, the "Big Six" released a new tax proposal titled the "Unified Framework for Fixing our Broken Tax Code." While laying out broad principles for tax reform, the Framework is lacking in details and does not speak specifically to the preservation or repeal of 1031 like-kind exchanges.

Concurrently with the release of the Framework, Accruit CEO Brent Abrahm was on Capitol Hill as co-chair of the FEA Government Affairs Committee, where he spoke with members of the House Ways &...

Are like-kind exchanges still advisable with tax reform on the horizon?

on Fri, 07/14/2017 - 08:51   Martin Edwards
Are like-kind exchanges still advisable with tax reform on the horizon?

Often, when learning of the tax deferral benefits of like-kind exchanges for the first time, sellers are surprised. It seems too good to be true, but it is. Capital gains taxes, recapture of depreciation, state taxes and a health care tax can all be deferred in full. But given the current climate of impending tax reform, is it still advisable?

Baucus and Camp Tax Reform Plans

A number of tax reform plans have been circulating over the past several years. The...

Like-Kind Exchange News Round-Up, June 29 – July 11

on Tue, 07/11/2017 - 08:30   Mark Flanagan
Farms 1031 like-kind exchanges

What brings farmers, small business owners, and legislators together to speak out about tax reform? Like-kind exchanges do.

In this week's round-up of 1031 news, Judd Vande Voorte, a fifth generation farmer, calls like-kind exchanges "a continuous circle of economic stimulus and liquidity" and cites a recent study showing that ...

Representative Steve Stivers Calls for Preservation of Like-Kind Exchanges

on Wed, 07/05/2017 - 11:36   Mark Flanagan
Capitol Building Washington DC

In an op-ed in The Hill, Representative Steve Stivers (R-Ohio) called for the preservation of 1031 like-kind exchanges. Stivers, a member of the Financial Services Committee, called Section 1031 an "important tax benefit," citing the tax provision's value to the community and the economy and stating the importance that it be kept out of the crosshairs of tax reform.

Read "To keep investment dollars flowing, protect this incentive" in The Hill.

 ...

Advocates Aim to Preserve Like-Kind Exchange in Tax Reform

on Thu, 05/11/2017 - 11:32   Mark Flanagan
Washington D.C. Tax Reform

In a May 8, 2017 Tax Notes article, “Advocates Aim to Preserve Like-Kind Exchange in Tax Reform,” Emily Foster explores  the issue of repealing 1031 like-kind exchanges as part of the current tax reform efforts in Washington. In the absence  of specific guidance regarding like-kind exchanges in either the House GOP tax reform blueprint or President Trump's  one-page tax reform plan, analysts are looking closely at former House Ways and Means Committee Chair Dave Camp's 2014  tax reform draft, in which Camp had proposed repeal of Section 1031 in its entirety. 

Incorporating views from both opponents and advocates of like-kind exchange repeal, Foster's article discusses the history  of 1031 exchanges, how and by whom like-kind exchanges are currently used and the potential consequences of repeal.

Read the Tax Notes article by Emily L. Foster,  reposted with permission from Tax Analysts.

Original publication: Tax Notes by Tax Analysts. “Advocates Aim to  Preserve Like-Kind Exchange in Tax Reform,” by Emily L. Foster. May 8, 2017, pp. 726-730. For more Tax Notes content, please...

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

on Thu, 04/20/2017 - 11:26   Brent Abrahm
Representative Pete Sessions and Accruit CEO Brent Abrahm

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...

Tax Reform: 10 Talking Points in Favor of Preserving Like-Kind Exchanges

on Wed, 02/08/2017 - 16:00   Brent Abrahm

Early April is the expected date for committee discussions on a preliminary tax reform bill. Or is it May? Perhaps before the August recess? 

That was the comical consensus I received after attending 17 meetings in Washington D.C. last week. Lately, when monitoring the news out of our nation’s capital, we’ve all become a bit skeptical of what defines “good reporting.”  The proposed House tax plan labeled A Better Way is reported to have the full support of Republican lawmakers. However, some closed-door conversations with members of Congress last week provided me with an entirely different story. 

Is it Really A Better Way?

The only real consensus is that A Better Way has a lot of unanswered questions for U.S. business owners. This 35-page document seems to gloss over the fact that business owners want more out of tax reform than simplicity and a lower tax rate.  In order to grow, American business needs the ability to do things like expand operations, hire more people, acquire equipment, secure land and facilities, leverage debt...

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