Explaining 1031 exchanges to partners, customers, colleagues and friends

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 exchanges (LKEs), and it's not always the easiest thing to explain. The more they know about finance and tax issues, the easier it is, but even then it can be tricky communicating the code in a way that's readily understood.

Those who work with us probably encounter the same challenge from time to time. Maybe you're a client explaining your program to a new employee, or perhaps you're a partner trying to articulate the value of LKEs to one of your customers. In any case, how can you get the message across clearly?

I'd like to point you to a couple of resources that may help the next time the subject comes up. First, you might review our 1031 101 podcast. This introductory explanation of the LKE process is led by President and CEO Brent Abrahm and is a great tool for helping you grasp the basics. Second, Steve Chacon, our Director of Exchange Operations, has just produced a 1031 exchange webinar/video designed expressly for our partners. This refresher delves into a bit more detail and by the end you're going to be far better equipped to explain the whats, hows and whys of LKEs to your own customers and colleagues.

Give these a few minutes of your time, and if you need clarification or have specific questions about the material, contact Steve at 866.397.1031 x 116 or stevec@accruit.com. In addition, if you feel that there would be some value in doing a presentation to a customer group, let us know - we can either help you do it yourself, or perhaps we can run a webinar or do an on-site presentation on your behalf.