Join us at the Suburban Chicago Commercial Real Estate Forum on Wednesday, June 7 at the Inland Real Estate Campus in Oak Brook, IL.
Accruit CEO Brent Abrahm will be speaking about the House Republican Tax Reform Blueprint and its potential impact to like-kind exchanges. Speakers will also include George Relias, Partner, Relias & Tsonis, LLC, Alison Hastings, Vice President, Inland Valuation & Advisory, LLC, John Carpenter, President & CEO, Choose DuPage, Brandon Frankel, Sr. Market Analyst, CoStar Group and Valentina Tomov, President and CEO of the Greater Oak Brook Chamber of Commerce.
In mid-May, Ritchie Bros. received unconditional antitrust clearance from the U.S. Department of Justice for its acquisition of online auctioneer, IronPlanet. Ritchie Bros.' acquisition of IronPlanet will officially close in the coming weeks, further diversifying the channels through which customers buy and sell equipment. According to Jim Barr, Ritchie Bros. group president of emerging businesses, brand innovation and technology, the company has shifted strategically in the past few years from auction to multichannel asset disposition, and the IronPlanet acquisition was the next logical step in that strategy. “Each company has a great set of solutions," Jim Barr told Construction Equipment Guide. “We won't be getting rid of any of them. We want our customers to choose whatever solution best suits their needs.”
Executives from Equipment Leasing and Finance Association (ELFA) member companies will convene in Washington, D.C. on May 17 and 18 to educate members of Congress and select White House administration officials about the contributions that the equipment finance industry makes to the United States economy. Over the course of two days, ELFA members will have more than 150 meetings with Senate and House offices and executive branch agencies to advocate in issues affecting the equiopment leasing and finance industry.
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.
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.
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:
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 Deferred Exchange in 2011. Since that time, she has led Accruit’s project management office, spearheaded process improvement efforts, and handled like-kind exchange program implementations and other initiatives. She leads Accruit’s software product development and works directly with department managers across the company to develop quality assurance and process improvement strategies.
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 2017 AED Washington Fly-In meeting with policymakers to discuss the positive impact that 1031 like-kind exchanges have on the U.S. heavy equipment industry.
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.
IRVINE, Calif., Nov. 14, 2016 — HomeUnion, an online real estate firm providing all of the services investors need to buy, sell and manage real estate, has formed a partnership with Accruit, a leading qualified intermediary for taxpayers executing like-kind exchanges. The partnership enables HomeUnion’s investor clients to access Accruit’s services, as well as their Certified Exchange Specialists (CES®), when closing like-kind exchanges in real estate. A like-kind exchange in real estate – also known as a 1031 exchange – allows investors to sell a property and reinvest the proceeds from that sale into a new property to defer capital gains taxes