Category: Company and Industry News

There’s no question that 2020 has been a crazy year. This year’s Federation of Exchange Accommodators (FEA) Conference theme is “Standing Strong in the Winds of Change” and it could not be more appropriate. The conference this year is all virtual, but we anticipate the content to be just as informative as it has been in years past. This is where all of the people in our industry get together and learn from the best among us. Gathering digitally from September 22-25, 2020, we are looking forward to seeing old friends and colleagues and being steeped in learning.
Over four days, 6 classes on 1031 exchanges including potential changes & the pending election will be shared among our peers. 
Accruit is honored to have been tapped for the third year in a row to teach the Reverse Exchange Bootcamp. Martin S. Edwards (past FEA President) and Jordan Born (current FEA Board member and member of the government affairs and ethics committees) will be teaching this course. 
The FEA is such an integral part of our business, which is why Accruit remains a very active member, and can boast that five of our employees hold or have held some type of leadership within the organization, from board member to President. They represent our industry in Washington to ensure that 1031 exchange is protected so that we can continue to serve our clients.
We look forward to learning a lot and bringing that knowledge back to better serve our clients.
Never stop learning.

The team at Accruit is pleased to continue rapid growth plans by adding David Gorenberg as Managing Director. An attorney by trade, David has spent 20 years of his career in the 1031 like-kind exchange industry and is a Certified Exchange Specialist®. David is joining Accruit from Wilmington Trust, where he served as the Vice President and Product Leader for Wilmington Trust 1031 Exchange, LLC out of Wilmington, DE. Prior to that, he spent six years with Citibank’s 1031 operations.

“When it came time to relocate my 1031 exchange practice, I wanted to join an industry leader. I’ve known Brent and other members of the Accruit team for years, and I’m thrilled to be joining such a highly respected firm,” says David Gorenberg.

As part of Accruit’s commitment to strategic growth, David was selected from top industry professionals to join Accruit’s team of subject matter experts. David is past President of the Federation of Exchange Accommodations (FEA), making Accruit the only QI in the country to boast three past FEA presidents on staff at one time. David joins colleagues Max A. Hansen and Martin S. Edwards, creating a triumvirate of 1031 expertise here at Accruit. With David’s addition, the collective experience at Accruit now exceeds 150 years working in the industry. 

“Having served with David on the FEA Board for numerous years, I experienced first-hand how David helped shape our industry. Now, we are fortunate to add him to our team,” says Brent Abrahm, President & CEO of Accruit. “This gives our company a significant presence coast to coast.”

David is active in public speaking and business development opportunities as they relate to 1031 exchange transactions, Tenant-In-Common (TIC) and Delaware Statutory Trust (DST) properties. David spends a significant portion of his time presenting continuing education classes to accountants, attorneys, financial planners, real estate brokers, and investors nationwide.
With offices in Denver, Chicago, Dallas, and Dillon, MT, Accruit adds a presence on the east coast with the addition of Gorenberg, who will be based out of Philadelphia, PA.
When he’s not helping clients with exchanges, David can be found at a marching band festival, gathering trivia, or spending time with his family. 

The team at Accruit is pleased to continue rapid growth plans by adding David Gorenberg as Managing Director. An attorney by trade, David has spent 20 years of his career in the 1031 like-kind exchange industry and is a Certified Exchange Specialist®. David is joining Accruit from Wilmington Trust, where he served as the Vice President and Product Leader for Wilmington Trust 1031 Exchange, LLC out of Wilmington, DE. Prior to that, he spent six years with Citibank’s 1031 operations.

“When it came time to relocate my 1031 exchange practice, I wanted to join an industry leader. I’ve known Brent and other members of the Accruit team for years, and I’m thrilled to be joining such a highly respected firm,” says David Gorenberg.

As part of Accruit’s commitment to strategic growth, David was selected from top industry professionals to join Accruit’s team of subject matter experts. David is past President of the Federation of Exchange Accommodations (FEA), making Accruit the only QI in the country to boast three past FEA presidents on staff at one time. David joins colleagues Max A. Hansen and Martin S. Edwards, creating a triumvirate of 1031 expertise here at Accruit. With David’s addition, the collective experience at Accruit now exceeds 150 years working in the industry. 

“Having served with David on the FEA Board for numerous years, I experienced first-hand how David helped shape our industry. Now, we are fortunate to add him to our team,” says Brent Abrahm, President & CEO of Accruit. “This gives our company a significant presence coast to coast.”

David is active in public speaking and business development opportunities as they relate to 1031 exchange transactions, Tenant-In-Common (TIC) and Delaware Statutory Trust (DST) properties. David spends a significant portion of his time presenting continuing education classes to accountants, attorneys, financial planners, real estate brokers, and investors nationwide.
With offices in Denver, Chicago, Dallas, and Dillon, MT, Accruit adds a presence on the east coast with the addition of Gorenberg, who will be based out of Philadelphia, PA.
When he’s not helping clients with exchanges, David can be found at a marching band festival, gathering trivia, or spending time with his family. 

The team at Accruit is pleased to continue rapid growth plans by adding David Gorenberg as Managing Director. An attorney by trade, David has spent 20 years of his career in the 1031 like-kind exchange industry and is a Certified Exchange Specialist®. David is joining Accruit from Wilmington Trust, where he served as the Vice President and Product Leader for Wilmington Trust 1031 Exchange, LLC out of Wilmington, DE. Prior to that, he spent six years with Citibank’s 1031 operations.

“When it came time to relocate my 1031 exchange practice, I wanted to join an industry leader. I’ve known Brent and other members of the Accruit team for years, and I’m thrilled to be joining such a highly respected firm,” says David Gorenberg.

As part of Accruit’s commitment to strategic growth, David was selected from top industry professionals to join Accruit’s team of subject matter experts. David is past President of the Federation of Exchange Accommodations (FEA), making Accruit the only QI in the country to boast three past FEA presidents on staff at one time. David joins colleagues Max A. Hansen and Martin S. Edwards, creating a triumvirate of 1031 expertise here at Accruit. With David’s addition, the collective experience at Accruit now exceeds 150 years working in the industry. 

“Having served with David on the FEA Board for numerous years, I experienced first-hand how David helped shape our industry. Now, we are fortunate to add him to our team,” says Brent Abrahm, President & CEO of Accruit. “This gives our company a significant presence coast to coast.”

David is active in public speaking and business development opportunities as they relate to 1031 exchange transactions, Tenant-In-Common (TIC) and Delaware Statutory Trust (DST) properties. David spends a significant portion of his time presenting continuing education classes to accountants, attorneys, financial planners, real estate brokers, and investors nationwide.
With offices in Denver, Chicago, Dallas, and Dillon, MT, Accruit adds a presence on the east coast with the addition of Gorenberg, who will be based out of Philadelphia, PA.
When he’s not helping clients with exchanges, David can be found at a marching band festival, gathering trivia, or spending time with his family. 

Accruit has previously provided a summary of the rules pertaining to extensions of exchange transactions victims of the severe storms and flooding that began on May 16, 2020.
In Utah, the IRS issued

Accruit has previously provided a summary of the rules pertaining to extensions of exchange transactions victims of the severe storms and flooding that began on May 16, 2020.
In Utah, the IRS issued

Accruit has previously provided a summary of the rules pertaining to extensions of exchange transactions victims of the severe storms and flooding that began on May 16, 2020.
In Utah, the IRS issued

As many have reported, Presidential candidate Joe Biden announced on Tuesday, July 21st that he plans to raise cash for childcare and elderly services by revamping the rules for 1031 exchanges of real property to limit the tax deferral opportunity to taxpayers with annual incomes of less than $400,000 per year. Targeting 1031 exchanges such as what Biden proposes is not new. Various administrations of both parties have attempted for years to limit the extent of 1031 exchanges or repeal the provision to raise revenue for other programs. Ultimately those attempts have failed when, upon further consideration, they realized that they would have essentially jettisoned a tax provision that is not a “loophole” but was made a part of the Internal Revenue Code in 1921 because it embodied good tax policy and directly influenced economic growth. There were sound reasons this concept was put into the Tax Code nearly 100 years ago. Those policy considerations are true now more than ever.
Why 1031 exchanges are important
The reasons for Section 1031 exchanges have become even more important in the tough economic times created by the current pandemic. Repeal or limitation of 1031 exchanges would only run counter to our shared goal of pulling the Country out of current economic doldrums. The https://www.1031taxreform.com/ling-petrova/”>empirical data amassed by diverse groups in the real estate industry is overwhelming that real estate transactions and specifically the ability to defer capital gains by reinvesting in business use or investment property is one of the strongest economic drivers in our country. The temptation to use the dramatic limitation of Section 1031 is shortsighted when viewed in the context of the effect on many other persons, industries and taxing entities that benefit from the frequent transfer of real estate ownership.
1031 exchange impacts Main Street America
In addition, contrary to the often used refrain that rich persons or big real estate developers are the main beneficiaries of 1031 exchanges, the fact is that the bulk of real estate exchanges done in this country are in the $500,000 range and many times less than that. In those situations where the exchange value is higher, in situations involving family held Main Street businesses, farms, ranches and other properties, the value being exchanged represents sometimes multi-generational blood, sweat and tears expended in saving up a nest egg that can be used to improve the taxpayers’ properties and quality of life.
1031 exchanges strongly influence economic growth
Biden stated that he wants to limit 1031 exchanges so he can use the revenue gained to improve child care and care for the elderly. However, to that point, owners of elder care facilities and child care facilities have regularly used 1031 exchanges to shed themselves of an outmoded facility and upgrade into facilities that better serve the children and elderly folks in their charge. As prior administrations ultimately concluded, when considering the overall impact, it does not make good business sense to overly limit an investment tool that benefits all Americans, spanning all economic strata and demographics, and is one of the most powerful economic drivers this country has.

As many have reported, Presidential candidate Joe Biden announced on Tuesday, July 21st that he plans to raise cash for childcare and elderly services by revamping the rules for 1031 exchanges of real property to limit the tax deferral opportunity to taxpayers with annual incomes of less than $400,000 per year. Targeting 1031 exchanges such as what Biden proposes is not new. Various administrations of both parties have attempted for years to limit the extent of 1031 exchanges or repeal the provision to raise revenue for other programs. Ultimately those attempts have failed when, upon further consideration, they realized that they would have essentially jettisoned a tax provision that is not a “loophole” but was made a part of the Internal Revenue Code in 1921 because it embodied good tax policy and directly influenced economic growth. There were sound reasons this concept was put into the Tax Code nearly 100 years ago. Those policy considerations are true now more than ever.
Why 1031 exchanges are important
The reasons for Section 1031 exchanges have become even more important in the tough economic times created by the current pandemic. Repeal or limitation of 1031 exchanges would only run counter to our shared goal of pulling the Country out of current economic doldrums. The https://www.1031taxreform.com/ling-petrova/”>empirical data amassed by diverse groups in the real estate industry is overwhelming that real estate transactions and specifically the ability to defer capital gains by reinvesting in business use or investment property is one of the strongest economic drivers in our country. The temptation to use the dramatic limitation of Section 1031 is shortsighted when viewed in the context of the effect on many other persons, industries and taxing entities that benefit from the frequent transfer of real estate ownership.
1031 exchange impacts Main Street America
In addition, contrary to the often used refrain that rich persons or big real estate developers are the main beneficiaries of 1031 exchanges, the fact is that the bulk of real estate exchanges done in this country are in the $500,000 range and many times less than that. In those situations where the exchange value is higher, in situations involving family held Main Street businesses, farms, ranches and other properties, the value being exchanged represents sometimes multi-generational blood, sweat and tears expended in saving up a nest egg that can be used to improve the taxpayers’ properties and quality of life.
1031 exchanges strongly influence economic growth
Biden stated that he wants to limit 1031 exchanges so he can use the revenue gained to improve child care and care for the elderly. However, to that point, owners of elder care facilities and child care facilities have regularly used 1031 exchanges to shed themselves of an outmoded facility and upgrade into facilities that better serve the children and elderly folks in their charge. As prior administrations ultimately concluded, when considering the overall impact, it does not make good business sense to overly limit an investment tool that benefits all Americans, spanning all economic strata and demographics, and is one of the most powerful economic drivers this country has.

As many have reported, Presidential candidate Joe Biden announced on Tuesday, July 21st that he plans to raise cash for childcare and elderly services by revamping the rules for 1031 exchanges of real property to limit the tax deferral opportunity to taxpayers with annual incomes of less than $400,000 per year. Targeting 1031 exchanges such as what Biden proposes is not new. Various administrations of both parties have attempted for years to limit the extent of 1031 exchanges or repeal the provision to raise revenue for other programs. Ultimately those attempts have failed when, upon further consideration, they realized that they would have essentially jettisoned a tax provision that is not a “loophole” but was made a part of the Internal Revenue Code in 1921 because it embodied good tax policy and directly influenced economic growth. There were sound reasons this concept was put into the Tax Code nearly 100 years ago. Those policy considerations are true now more than ever.
Why 1031 exchanges are important
The reasons for Section 1031 exchanges have become even more important in the tough economic times created by the current pandemic. Repeal or limitation of 1031 exchanges would only run counter to our shared goal of pulling the Country out of current economic doldrums. The https://www.1031taxreform.com/ling-petrova/”>empirical data amassed by diverse groups in the real estate industry is overwhelming that real estate transactions and specifically the ability to defer capital gains by reinvesting in business use or investment property is one of the strongest economic drivers in our country. The temptation to use the dramatic limitation of Section 1031 is shortsighted when viewed in the context of the effect on many other persons, industries and taxing entities that benefit from the frequent transfer of real estate ownership.
1031 exchange impacts Main Street America
In addition, contrary to the often used refrain that rich persons or big real estate developers are the main beneficiaries of 1031 exchanges, the fact is that the bulk of real estate exchanges done in this country are in the $500,000 range and many times less than that. In those situations where the exchange value is higher, in situations involving family held Main Street businesses, farms, ranches and other properties, the value being exchanged represents sometimes multi-generational blood, sweat and tears expended in saving up a nest egg that can be used to improve the taxpayers’ properties and quality of life.
1031 exchanges strongly influence economic growth
Biden stated that he wants to limit 1031 exchanges so he can use the revenue gained to improve child care and care for the elderly. However, to that point, owners of elder care facilities and child care facilities have regularly used 1031 exchanges to shed themselves of an outmoded facility and upgrade into facilities that better serve the children and elderly folks in their charge. As prior administrations ultimately concluded, when considering the overall impact, it does not make good business sense to overly limit an investment tool that benefits all Americans, spanning all economic strata and demographics, and is one of the most powerful economic drivers this country has.