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Doubling Down on 1031 at the 2022 FEA Annual Conference

Our organization had the pleasure of attending the Federation of Exchange Accommodators (FEA) Annual Conference last week in Las Vegas. We had 6 members of Accruit, our national leading 1031 Exchange Qualified Intermediary (QI), attend the conference, with three team members instructing boot camps. We also had three representatives from Accruit Technologies, developer of the only patented 1031 Exchange workflow software, demonstrate the revolutionary 1031 exchange software to conference attendees. “It was amazing to see how willing people within the FEA are to help assist and advise in transactional guidance even though they may be a ‘competitor’,” said Jonathan of his first-time attendance at the FEA Annual Conference.
Accruit team at the FEA Annual Conference 2022

Industry Education

Accruit was honored to help educate our peers in the 1031 industry by presenting in both boot camps at this year’s conference. “Our team is absolutely recognized as leaders in the 1031 industry – we are the go-to QI for learning, solutions, and setting standards,” said Brent Abrahm, President & CEO of Accruit.

David Gorenberg co-presented the 1031 Unlike property or non-qualifying property such as securities, cash, notes, partnership interests, etc. Taxpayer who receives boot ("unlike" property) will have to recognize gain to the extent of the net boot received or realized gain, whichever is less. In exchanges, there are two types of boot: cash boot and mortgage boot. Boot Camp to roughly 60 attendees. In addition to instructing the boot camp, David presented two General Session topics including Identification Pickles and Real-World Ethics for the QI. “Over the past fifteen years, I have presented approximately 30 sessions at FEA Annual Conferences. With each presentation I grow as a Qualified Intermediary, either because I am teaching new material or because attendees ask questions I haven't yet faced. I was honored to deliver three presentations this year, with many first-time attendees, and each presentation furthered my understanding of Section 1031, and my ability to translate that information to people of differing backgrounds,” said David.

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David presenting during the General Session of the 2022 FEA Annual Conference

 

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Matthew Douglas and Martin Edwards presenting the reverse exchange boot camp at the FEA Annual Conference

Martin Edwards and Matthew Douglas presented the Reverse Exchanges Unlike property or non-qualifying property such as securities, cash, notes, partnership interests, etc. Taxpayer who receives boot ("unlike" property) will have to recognize gain to the extent of the net boot received or realized gain, whichever is less. In exchanges, there are two types of boot: cash boot and mortgage boot. Boot Camp to approximately 50 attendees. The duo covered the different variations of parking transactions in relative detail over the course of the three-hour presentation, and fielded questions from a highly engaged audience mostly made up of other QIs who were interested in either deepening their knowledge of parking exchanges or preparing to start handling those transactions themselves. One boot camp attendee indicated that while she has attended various conferences that discussed reverse exchanges, for the first time she understood the subject after attending this particular boot camp. As a first time FEA attendee, Matthew was proud to represent Accruit and instruct on parking deals, which he spends most of his professional time handling. “It was a pleasure to take what I’ve learned working at Accruit, and with Marty specifically, and present it in a way that our audience seemed to understand and appreciate,” stated Matthew.

 

Award Recognition

We are proud to announce that members of Accruit were recognized for their 1031 industry involvement and awarded the two coveted FEA awards for 2022.

Martin Edwards was awarded the Margo McDonnell Certified The transfer of the relinquished property to the Qualified Intermediary, and the receipt of the replacement property from the Qualified Intermediary is considered an exchange. To be compliant with IRC Section 1031, the transaction must be properly structured, rather than being a sale to one party followed by a purchase from another party. Exchange Specialist® Perpetual Award at the FEA Annual Convention. Nominated by peers, the award recognizes someone who has gone “above and beyond” and made significant contributions that benefit the 1031 exchange industry. Martin has over 35 years' experience in the 1031 industry, he is a current member and past board member of the FEA. His contributions include lecturing at the Illinois State Bar Association, multiple FEA Annual Conventions amongst many others.

Max Hansen received the 2022 President’s Award. The award recognizes an individual who has demonstrated outstanding leadership in their efforts on FEA’s behalf to save and grow the 1031 exchange industry. With over four decades in the 1031 industry, Max’s contributions are numerous, some of the more notable include a former FEA president and former co-chair of the Government Affairs Committee (GAC) of the FEA. He still serves on the GAC and actively promotes the benefits of 1031 exchanges for taxpayers and the economy as a whole.

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Accruit team members Martin Edwards and Max Hansen receive awards at FEA Annual Conference

 

Revolutionizing 1031 – The Industry’s Only Patented 1031 Workflow Software (SaaS)

 

 

All Business, But Also Fun

Accruit Technologies wrapped up the FEA Annual Conference by hosting an intimate After Party, with our friends at Capital One, for our existing QI SaaS Clients, prospective clients, and existing partners.

“It was a great opportunity to meet several of our SaaS clients and hear what they like about The transfer of the relinquished property to the Qualified Intermediary, and the receipt of the replacement property from the Qualified Intermediary is considered an exchange. To be compliant with IRC Section 1031, the transaction must be properly structured, rather than being a sale to one party followed by a purchase from another party. Exchange Manager ProSM,,” stated Mark Mayfield, Vice President, Service Development & Delivery.

We’d like to thank the FEA for such a great event that will continue to push the 1031 industry forward. Marita Kazos, of the Accruit Technologies Client Success Team reflected on the experience, “To me the FEA Annual Conference is like the Internal Revenue Code Section 1031 states that "no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held for productive use in a trade or business or for investment." 1031 Exchange Oscars, and I am so thankful I was there.”

 

Until Next Year! 

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Accruit Technologies After Party at the FEA Annual Conference

 

 

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Accruit Technologies After Party at the FEA Annual Conference Networking

 

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