The Federation of Exchange Accommodators (FEA) has received confirmation that the New Hampshire Governor John Lynch has signed SB 483 into law. According to the FEA:
The new law amends prior law, which deprived taxpayers of Section 1031 tax deferral on a state level if they purchased replacement propertyreplacement property
in the name of a new entity, notwithstanding that the acquiring entity was a disregarded entity. The typical situation would be that in which a taxpayertaxpayer
was required by . . .
All of us here at Accruit are used to it. A friend, family member, acquaintance or somebody we just met at a party says "what does your company do?" The truth is that not a lot of people know much, if anything, about 1031 like-kind...
Exchangers frequently inquire about when they may receive all, or part of their exchange proceeds back. It is a question I have been asked countless times, and in certain circumstances giving the right answer can be difficult. We're talking, after all, about the proceeds from the exchangerexchanger 's sale, and sometimes the need for their return is pressing. Regardless of the need, though, there are very rigid regulations regarding when qualified intermediaries (QIs) can release a client's exchange proceeds. Those same regulations make no provision for how badly those funds may be needed for purposes outside a properly structured ...
We recently noted that a California legislator had introduced a new bill containing short-sighted measures which would essentially eliminate a company's ability to employ 1031 like-kind exchanges (LKEs).The law was intended to generate revenue for the financially strapped state, but was certain to have the precise opposite effect, especially in the long term.
In mid-March the Federation of Exchange Accommodators (FEA) sent a letter detailing its concerns to the bill's sponsor, Assemblyman Juan Arambula. The letter was signed by Brent Abrahm (Accruit's President and CEO, acting in his official capacity as Director, President-elect & Co-Chair of the FEA State Legislative Committee) and Suzanne Goldstein Baker (Director & Chair, Federal Legislative Committee). In addition, the letter was co-signed by representatives of several important industry groups, including the Equipment Leasing and Finance Association, the National Association of Equipment Leasing Brokers, Associated Equipment Distributors and the National Equipment Finance Association.
It now appears that Assemblyman Arambula has reconsidered and is dropping these counterproductive provisions. 1031 exchanges enable hundreds of California companies employing thousands of...
The Internal Revenue Service today issued Revenue Procedure 2010-14, providing a much-needed safe harborsafe harbor for reporting gain or loss for some taxpayers. Affected parties are taxpayers who initiated 1031 ...
The Accruit Exchange Manager™ was featured in the most recent Trusts & Estates magazine's monthly technology review. The reviewer, Donald H. Kelley of Kelley, Scritsmier & Byrne, P.C., regularly covers technology and related issues for the legal publication, which is devoted to the wealth management sector.
His review considered four key criteria, and awarded the Exchange Manager™ 18 out of a possible 20 stars, concluding that "[t]he Accruit service furnishes an efficient way to handle the details of like-kind...
I was recently re-reading a Seattle Times story from a couple years back on how men in their 30s are earning less than their fathers did. An interesting story top to bottom, but the concluding section drew me back around to something that I really haven't talked about enough lately - the looming generational macro-succession nightmare facing corporate America. It's impossible to say precisely how many businesses are going to feel the bite - or already are - but my best guess is somewhere between "many" and "most."
This part you may have heard before:
Diehard careerist baby boomers also might partly explain the inability of 30-something men to move up the income ladder as quickly as their fathers. From the moment Generation Xers entered the workplace, boomers have been the "ceiling" blocking their way up the income ladder, said Peter Rose, a partner with marketing-research company Yankelovich in Los Angeles.
"The boomers stand out in defining themselves in terms of their work and have shown a disinclination to get out of
In some circles Accruit is known for the value it represents for businesses buying and selling "personal property" - that is, tangible, non-real estate assets. However, Accruit's patented 1031 process - the only patented like-kind...
You know the old proverb. Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime. I was reminded of this adage when I came across a recent Harvard Business Blog on "how to ask better questions."
The author of that insightful post, Judith Ross, notes that when people (especially subordinates) come to us with questions, the natural instinct is to provide an answer. However, providing the answer may not be the best response.
Although providing employees with answers to their problems often may be the most efficient way to get things done, the short-term gain is overshadowed by long-term costs. By taking the expedient route, you impede direct reports' development, cheat yourself of access to some potentially fresh and powerful ideas, and place an undue burden on your own shoulders. When faced with an employee's problem, you can respond in a much more value-adding way: by asking the right questions, help her find the best solution herself. We aren't
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