Accruit Blog

October 2012 Newsletter - Effective Cash Flow Strategies Are More Critical Than Ever

In this Issue:

- President's Pen
- Reverse Like-Kind Exchanges
- North Star Deferred Exchange LLC: Understanding Tax Deferred Exchanges of Real Estate
- Top 5 List: All-Time Winning NFL Franchises
- Accruit in Action

June 2012 Newsletter - Ready or Not, Summer is Here

In this Issue:

- President's Pen
- JBR Corner
- Top 5 of the Month
- Industry Spotlight
- Accruit News

Case Study - Single Exchange: Janssen Brothers Engineering and Construction

Janssen Brothers Engineering and Construction (JBEC) is a large, top-rated contracting firm based in the Midwest. They routinely buy and sell a variety of heavy equipment in the course of business.

The Problem

In 2009 JBEC decided to move several older cranes and to purchase a new model from a local dealership. The existing cranes were fully depreciated for tax purposes, and the company anticipated a hefty tax bill upon sale.

The Accruit Solution

JBEC, which had conducted several single exchanges in the past, consulted with its Accruit Client Service Manager and learned that its plans represented a very simple straightforward 1031 exchange. The CSM helped them structure the exchange, at which time they sold the relinquished assets (four Grove RT series and one Grove TMS series) at a Ritchie Bros. auction.

Accruit & EnergyNet Webinar - Acquiring and Divesting Oil and Gas Properties Utilizing a 1031 Like-Kind Exchange (LKE)

Watch the webinar given by Accruit and EnergyNet regarding divesting oil and gas properties while utilizing a powerful tax strategy - the 1031 Like-Kind Exchange (LKE).  The video contains four parts, be sure to watch them all!

Accruit Purchases North Star Deferred Exchange Company From BMO Financial Corporation

DENVER (Sept. 6, 2011) -- Accruit, LLC, the nation’s leading Qualified Intermediary (QI) for Section 1031 Program Like-Kind Exchanges (LKE), has entered into a definitive agreement to acquire North Star Deferred Exchange Corp, located in Chicago, Illinois, from BMO Financial Corporation. North Star Trust Company and its affiliates will remain a part of BMO Financial Corporation. North Star Deferred Exchange and North Star Trust Company are not related to Northstar Trade Finance, Inc., another company in which BMO Financial Group maintains an interest.

The Impact of 100% Bonus Depreciation on LKE Programs

Article republished with permission of our Joint Business Relationship partner, PwC.

Many companies with active like-kind exchange (LKE) programs are trying to understand how the new 100% bonus rules will impact their LKE benefits, and may even be considering suspending their programs for 2011 due to the enhanced bonus deduction. Since a program suspension could potentially create new tax and business process issues, it is important to look at more than just the Federal tax benefit when considering the suspension of a LKE program. Other factors to consider include:

We've Moved!

Accruit has moved from its former location, on Curtis Street in Denver, to a new space at the top of the Guaranty Bank Building:

1331 17th Street
Suite 1250
Denver, CO 80202

Regarding the move, Brent Abrahm, CEO of Accruit, stated, “We’re very excited about our new office and a redesign of the space. The new layout will facilitate better communication among team members while maintaining our state-of-the-art security and data infrastructure.” In this distinctive new location looking down upon Coors Field, the new Accruit will accommodate the space needed to house our current team and will allow us room for future growth.

Accruit Conducts Record Number of Exchanges at Premiere 2011 Ritchie Bros. Auction

DENVER (Feb. 24, 2011) -- Accruit, LLC, the leader in like-kind exchange (LKE) and qualified intermediary services (QI), today announced that it conducted a record number of exchanges at the unreserved 2011 Ritchie Bros. Orlando auction, held last week (Feb. 15 – 19). Representing nearly five percent of the total value of items sold, this marks Accruit’s highest value of exchanges conducted in its history as a provider at this auction.

Deadline for Active 1031 Exchanges: An Important Reminder

Extension Filing for Active 1031 Exchanges

2011 is well underway. As you close out 2010 with an eye on tax time, it is important to consider the need to extend the filing date of your Federal tax return.

The Technical Details
Section 1031 of the Internal Revenue Code dictates that like-kind exchanges must be completed by the earlier of 180 days from the transfer date of the relinquished property or by the due date, with extensions, of your Federal tax return. If you have an active like-kind exchange that began in 2010 and has a 180 day deadline beyond the due date of your tax return, you may need to apply for an extension of time to file. Details regarding the deadline requirements can be also be found within your signed Exchange Agreement.

PwC and Accruit Form Joint Business Relationship to Provide Integrated Like-Kind Exchange Services

NEW YORK (NOVEMBER 5, 2010) -- PwC US and Accruit, LLC today announced they have formed a joint business relationship to provide like-kind exchange ("LKE") services, combining their leading positions in providing LKE program services to more than 150 clients across 20 industries. In making the announcement, David Fowler, co-leader of PwC's LKE Services, said, "We are pleased to enter this joint business relationship with a team of talented professionals whose track record of delivering quality LKE services reflects our commitment to bringing our clients the resources to address their LKE program needs."

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