Category: Company and Industry News

Accruit was pleased to contribute to the following letter submitted to the Senate Finance Committee yesterday on behalf of the 1031 Like-Kind Exchange Coalition. We are seeing great strides in our efforts with Congress as we continue to educate members on the benefits that 1031 like-kind exchanges bring to the economy.
May 10, 2016
The Honorable Orrin G. Hatch
Chairman
Senate Committee on Finance
219 Dirksen Senate Office Building
Washington, D.C. 20510
The Honorable Ronald L. Wyden
Ranking Member
Senate Committee on Finance
219 Dirksen Senate Office Building
Washington, D.C. 20510
Dear Chairman Hatch and Ranking Member Wyden:
As the Senate Finance Committee considers ways to create jobs, grow the economy, and raise wages, we strongly urge you to retain current law regarding like-kind exchanges under section 1031 of the Internal Revenue Code (“Code”). Like-kind exchanges are integral to the efficient operation and ongoing vitality of thousands of American businesses, which in turn strengthen the U.S. economy and create jobs. Like-kind exchanges allow taxpayers to exchange their property for more productive like-kind property, to diversify or consolidate holdings, and to transition to meet changing business needs. Specifically, section 1031 provides that firms and investors do not immediately recognize a gain or loss when they exchange assets for “like-kind” property that will be used in their trade or business. They do immediately recognize gain, however, to the extent that cash or other “boot” is received. Importantly, like-kind exchanges are similar to other non-recognition and tax deferral provisions in the Code because they result in no change to the economic position of the taxpayer.
Since 1921, like-kind exchanges have encouraged capital investment in the United States by allowing funds to be reinvested in the enterprise, which is the very reason section 1031 was enacted in the first place. These investments not only benefit the companies making the like-kind exchanges, but also suppliers, manufacturers, and others facilitating them. Like-kind exchanges ensure both the best use of real estate and a new and used personal property market that significantly benefits start-ups and small businesses. Eliminating them or restricting their use would have a contraction effect on our economy by increasing the cost of capital. In fact, a recent macroeconomic analysis by Ernst & Young found that limitations on like-kind exchanges could lead to a decline in U.S. GDP of up to $13.1 billion annually.1
Companies in a wide range of industries, business structures, and sizes rely on the like- kind exchange provision of the Code. These businesses—which include construction, industrial, and farm equipment; vehicle manufacturers and lessors; and real estate—provide essential products and services to U.S. consumers and are an integral part of our economy. A study by researchers at the University of Florida and Syracuse University supports that without like-kind exchanges, businesses and entrepreneurs would have less incentive and ability to make real estate and capital investments. The immediate recognition of a gain upon the disposition of property being replaced would impair cash flow and could make it uneconomical to replace that asset.2 As a result, requiring the recognition of gain on like-kind exchanges would hamper the ability of businesses to be competitive in our global marketplace. The reduced investment in real estate and capital would also have significant upstream and downstream impacts on economic reactivity and employment in industries as diverse as real estate, agriculture, construction, tourism, hospitality, trucking, and equipment supply.
In summary, there is strong economic rationale, supported by recent analytical research, for the like-kind exchange provision’s nearly 100-year existence in the Code. Limitation or repeal of section 1031 would deter and, in many cases, prohibit continued and new real estate and capital investment. These adverse effects on the U.S. economy would likely not be offset by lower tax rates. Finally, like-kind exchanges promote uniformly agreed upon tax reform goals such as economic growth, job creation and increased competitiveness.
Thank you for your consideration of this important matter.
Sincerely,
American Car Rental Association
American Farm Bureau Federation
American Truck Dealers
American Trucking Associations
Asian American Hotel Owners Association
Associated General Contractors of America
Avis Budget Group, Inc.
CCIM Institute
C.R. England, Inc.
Equipment Leasing and Finance Association
Federation of Exchange Accommodators
Hertz Global Holdings, Inc.
Idaho Dairymen’s Association
Institute of Real Estate Management
National Apartment Association
National Association of Real Estate Investment Trusts
National Association of Realtors ®
National Automobile Dealers Association
National Multifamily Housing Council
National Stone, Sand, and Gravel Association
National Utility Contractors Association
The Real Estate Roundtable
Realtors ® Land Institute
South East Dairy Farmers Association
Truck Renting and Leasing Association
Western United Dairymen
1 The Economic Impact of Repealing or Limiting Section 1031 Like-Kind Exchanges in Real Estate (March 215, revised June 2015)
 

A recent California Code of Regulations proposal considers requiring corporate taxpayers to use an historical apportionment formula to trace assets through numerous layers of like-kind exchanges to determine how to apportion gains from the eventual sale of a replacement asset that might be a decade (or more) removed from the original sale of a relinquished asset.  American Financial Services Association, the Association of Commercial Vehicle Lessors was written to the California Franchise Tax Board to provide insight into the burden that such a requirement would place upon the taxpayers.
As a qualified intermediary who monitors and facilitates thousands of sales and purchases of assets that qualify for like-kind exchange treatment nationwide, we echo the sentiments put forth in the attached letter and would encourage the Franchise Tax Board to build a process that encourages the reinvestment inherent in like-kind exchanges rather than penalizing businesses who engage in this process to expand their operations. Replacement assets are routinely disbursed throughout the U.S. with new tax bases derived from multiple sales from multiple states. Asking third parties to track and report on fractional taxing amounts through every asset’s lifespan would be overburdensome.
In short, requiring the application of historical apportionment, which requires tracing of the gain or loss through multiple exchanges spanning decades of time, is simply not administratively feasible for corporate taxpayers with like-kind exchange programs.

A recent California Code of Regulations proposal considers requiring corporate taxpayers to use an historical apportionment formula to trace assets through numerous layers of like-kind exchanges to determine how to apportion gains from the eventual sale of a replacement asset that might be a decade (or more) removed from the original sale of a relinquished asset.  American Financial Services Association, the Association of Commercial Vehicle Lessors was written to the California Franchise Tax Board to provide insight into the burden that such a requirement would place upon the taxpayers.
As a qualified intermediary who monitors and facilitates thousands of sales and purchases of assets that qualify for like-kind exchange treatment nationwide, we echo the sentiments put forth in the attached letter and would encourage the Franchise Tax Board to build a process that encourages the reinvestment inherent in like-kind exchanges rather than penalizing businesses who engage in this process to expand their operations. Replacement assets are routinely disbursed throughout the U.S. with new tax bases derived from multiple sales from multiple states. Asking third parties to track and report on fractional taxing amounts through every asset’s lifespan would be overburdensome.
In short, requiring the application of historical apportionment, which requires tracing of the gain or loss through multiple exchanges spanning decades of time, is simply not administratively feasible for corporate taxpayers with like-kind exchange programs.

A recent California Code of Regulations proposal considers requiring corporate taxpayers to use an historical apportionment formula to trace assets through numerous layers of like-kind exchanges to determine how to apportion gains from the eventual sale of a replacement asset that might be a decade (or more) removed from the original sale of a relinquished asset.  American Financial Services Association, the Association of Commercial Vehicle Lessors was written to the California Franchise Tax Board to provide insight into the burden that such a requirement would place upon the taxpayers.
As a qualified intermediary who monitors and facilitates thousands of sales and purchases of assets that qualify for like-kind exchange treatment nationwide, we echo the sentiments put forth in the attached letter and would encourage the Franchise Tax Board to build a process that encourages the reinvestment inherent in like-kind exchanges rather than penalizing businesses who engage in this process to expand their operations. Replacement assets are routinely disbursed throughout the U.S. with new tax bases derived from multiple sales from multiple states. Asking third parties to track and report on fractional taxing amounts through every asset’s lifespan would be overburdensome.
In short, requiring the application of historical apportionment, which requires tracing of the gain or loss through multiple exchanges spanning decades of time, is simply not administratively feasible for corporate taxpayers with like-kind exchange programs.

Last week, I attended the Federation of Exchange Accommodators’ (FEA) annual conference, where it really struck home how impactful tax policy is for America.
The FEA is our nation’s only recognized association dedicated to education, proper conduct, and legislative representation for qualified intermediaries servicing IRC Section 1031 of the tax code, and as a sitting board member for over seven years, I am acutely aware of our membership’s activity levels.  Activity levels that, in many ways, mirror our broader economy. 
From 2009-2013, attendance was at an all-time low.  Colleagues whose businesses prospered years earlier were experiencing a dramatic slowing in the number of 1031 transactions they facilitated. Taxpayers’ wealth in America was being depleted; asset values dropped to a fraction of past highs; and the need for deferring tax gains seemed less probable than a good, long rain in California.
Fast Forward to 2015
FEA attendance is not a leading economic indicator, but it very well could be.  Attendance by qualified intermediaries in the last two years is up 20% year over year.  Hotel blocks are being sold out, and qualified intermediary companies are growing.  Why?  Because since 1921 our country has provided a powerful tax strategy to encourage capital growth, expansion, and reinvestment back into the economy.  This strategy – the use of 1031 like-kind exchanges – allows American businesses to rebuild what was ignored during the recession.  With Section 1031’s wide economic impact, why Congress would even consider repealing such a stimulus baffles me.
The construction industries for homes, roads, buildings, and apartments are struggling to keep up with demand.  New trucks, cars, planes, tractors, and cranes are all necessary to meet these demands, but the acquisition of these assets come with a significant cost.  Companies are once again growing, reinvesting, and expanding, and 1031 like-kind exchanges provide an affordable pathway for the acquisition of these assets.  1031s literally help build America.
This is exciting and incredibly rewarding.  Qualified intermediaries around the country serve the vital role of ensuring accuracy in fulfilling the 1031 requirements.  Our customers rely on our knowledge to guide them as they make strategic decisions to grow their business, add employees, and redeploy their earned capital in the most effective manner.  Having the immediate access to ALL of their earned capital after a divestment stimulates so many sectors of our economy. Section 1031 is the oil in our economic engine. 
Wide-Ranging Impact of 1031 Like-Kind Exchanges
One of our clients recently sold an income-producing piece of real estate and has dreams of building a bigger facility.  Using a 1031 exchange, they’ve decide to reinvest into a vacant piece of land.  In the months after closing on the new land, architects were hired, roads were graded, permits were submitted, and surveying was completed.  Extra capital was sought out while dozers prepared the land. Engineers are now engaged, and construction has started – bricks being laid, plumbing being routed, carpet being installed and paint being applied.  Movers will soon deliver new equipment, desks, and supplies.  Employees will be hired and, with the help of Section 1031, our client is realizing their vision.
Nobody should sit on the sidelines and allow 1031s be repealed.  Recent economic studies by both Ernst & Young and Ling & Petrova underscore the dramatic impacts to our economy should 1031s no longer be an option to businesses.  As the next 15 months unfold, and we elect a new president and see changes in the Senate and the House, remember what drives our economy and your business.  Tax policy that we can rely on, plan for, and grow in is what our economy needs to stay strong.

Last week, I attended the Federation of Exchange Accommodators’ (FEA) annual conference, where it really struck home how impactful tax policy is for America.
The FEA is our nation’s only recognized association dedicated to education, proper conduct, and legislative representation for qualified intermediaries servicing IRC Section 1031 of the tax code, and as a sitting board member for over seven years, I am acutely aware of our membership’s activity levels.  Activity levels that, in many ways, mirror our broader economy. 
From 2009-2013, attendance was at an all-time low.  Colleagues whose businesses prospered years earlier were experiencing a dramatic slowing in the number of 1031 transactions they facilitated. Taxpayers’ wealth in America was being depleted; asset values dropped to a fraction of past highs; and the need for deferring tax gains seemed less probable than a good, long rain in California.
Fast Forward to 2015
FEA attendance is not a leading economic indicator, but it very well could be.  Attendance by qualified intermediaries in the last two years is up 20% year over year.  Hotel blocks are being sold out, and qualified intermediary companies are growing.  Why?  Because since 1921 our country has provided a powerful tax strategy to encourage capital growth, expansion, and reinvestment back into the economy.  This strategy – the use of 1031 like-kind exchanges – allows American businesses to rebuild what was ignored during the recession.  With Section 1031’s wide economic impact, why Congress would even consider repealing such a stimulus baffles me.
The construction industries for homes, roads, buildings, and apartments are struggling to keep up with demand.  New trucks, cars, planes, tractors, and cranes are all necessary to meet these demands, but the acquisition of these assets come with a significant cost.  Companies are once again growing, reinvesting, and expanding, and 1031 like-kind exchanges provide an affordable pathway for the acquisition of these assets.  1031s literally help build America.
This is exciting and incredibly rewarding.  Qualified intermediaries around the country serve the vital role of ensuring accuracy in fulfilling the 1031 requirements.  Our customers rely on our knowledge to guide them as they make strategic decisions to grow their business, add employees, and redeploy their earned capital in the most effective manner.  Having the immediate access to ALL of their earned capital after a divestment stimulates so many sectors of our economy. Section 1031 is the oil in our economic engine. 
Wide-Ranging Impact of 1031 Like-Kind Exchanges
One of our clients recently sold an income-producing piece of real estate and has dreams of building a bigger facility.  Using a 1031 exchange, they’ve decide to reinvest into a vacant piece of land.  In the months after closing on the new land, architects were hired, roads were graded, permits were submitted, and surveying was completed.  Extra capital was sought out while dozers prepared the land. Engineers are now engaged, and construction has started – bricks being laid, plumbing being routed, carpet being installed and paint being applied.  Movers will soon deliver new equipment, desks, and supplies.  Employees will be hired and, with the help of Section 1031, our client is realizing their vision.
Nobody should sit on the sidelines and allow 1031s be repealed.  Recent economic studies by both Ernst & Young and Ling & Petrova underscore the dramatic impacts to our economy should 1031s no longer be an option to businesses.  As the next 15 months unfold, and we elect a new president and see changes in the Senate and the House, remember what drives our economy and your business.  Tax policy that we can rely on, plan for, and grow in is what our economy needs to stay strong.

Last week, I attended the Federation of Exchange Accommodators’ (FEA) annual conference, where it really struck home how impactful tax policy is for America.
The FEA is our nation’s only recognized association dedicated to education, proper conduct, and legislative representation for qualified intermediaries servicing IRC Section 1031 of the tax code, and as a sitting board member for over seven years, I am acutely aware of our membership’s activity levels.  Activity levels that, in many ways, mirror our broader economy. 
From 2009-2013, attendance was at an all-time low.  Colleagues whose businesses prospered years earlier were experiencing a dramatic slowing in the number of 1031 transactions they facilitated. Taxpayers’ wealth in America was being depleted; asset values dropped to a fraction of past highs; and the need for deferring tax gains seemed less probable than a good, long rain in California.
Fast Forward to 2015
FEA attendance is not a leading economic indicator, but it very well could be.  Attendance by qualified intermediaries in the last two years is up 20% year over year.  Hotel blocks are being sold out, and qualified intermediary companies are growing.  Why?  Because since 1921 our country has provided a powerful tax strategy to encourage capital growth, expansion, and reinvestment back into the economy.  This strategy – the use of 1031 like-kind exchanges – allows American businesses to rebuild what was ignored during the recession.  With Section 1031’s wide economic impact, why Congress would even consider repealing such a stimulus baffles me.
The construction industries for homes, roads, buildings, and apartments are struggling to keep up with demand.  New trucks, cars, planes, tractors, and cranes are all necessary to meet these demands, but the acquisition of these assets come with a significant cost.  Companies are once again growing, reinvesting, and expanding, and 1031 like-kind exchanges provide an affordable pathway for the acquisition of these assets.  1031s literally help build America.
This is exciting and incredibly rewarding.  Qualified intermediaries around the country serve the vital role of ensuring accuracy in fulfilling the 1031 requirements.  Our customers rely on our knowledge to guide them as they make strategic decisions to grow their business, add employees, and redeploy their earned capital in the most effective manner.  Having the immediate access to ALL of their earned capital after a divestment stimulates so many sectors of our economy. Section 1031 is the oil in our economic engine. 
Wide-Ranging Impact of 1031 Like-Kind Exchanges
One of our clients recently sold an income-producing piece of real estate and has dreams of building a bigger facility.  Using a 1031 exchange, they’ve decide to reinvest into a vacant piece of land.  In the months after closing on the new land, architects were hired, roads were graded, permits were submitted, and surveying was completed.  Extra capital was sought out while dozers prepared the land. Engineers are now engaged, and construction has started – bricks being laid, plumbing being routed, carpet being installed and paint being applied.  Movers will soon deliver new equipment, desks, and supplies.  Employees will be hired and, with the help of Section 1031, our client is realizing their vision.
Nobody should sit on the sidelines and allow 1031s be repealed.  Recent economic studies by both Ernst & Young and Ling & Petrova underscore the dramatic impacts to our economy should 1031s no longer be an option to businesses.  As the next 15 months unfold, and we elect a new president and see changes in the Senate and the House, remember what drives our economy and your business.  Tax policy that we can rely on, plan for, and grow in is what our economy needs to stay strong.

Earlier in the year I discussed Congress’ intent to move toward tax reform.  Chairman Hatch of the Senate Finance Committee had announced bipartisan tax reform working groups in January with recommendations due in late May, a deadline that was postponed twice.  The writing was on the wall for “business only” tax reform with the intention of providing tax relief for corporations.  These proposals were met with dissension by the majority of U.S. businesses operating as pass-through entities.  Simultaneously, international tax reform was gaining momentum in parallel with the emptying of the highway trust fund coffers and the newly proposed international trade acts reforms. 
We’re Not Out of the Woods
President’s Green Book budget proposal also severely limits the use of 1031s.
What’s the old saying?  “History does not repeat itself, but it rhymes.”

As we watch this Congress work hard to keep promises by passing reforms, the always lingering question is still, “Who is going to pay for tax reform?” During last month’s discussions on transportation legislation, Senator Pat Roberts (R-Kan.) pointed out the increasing difficulty to find enough spending cuts to cover the costs of the long list of programs that need funding.
“We’re looking in every corner for every pay-for. It is just terribly difficult to find this kind of money, and we’re probably painted into the corner on a lot of different issues.”
1031s Should Not Be the Pay-For
Through multiple coalition efforts, the 1031 industry continues to pressure Congress to leave 1031 like-kind exchanges in their current state. Through letters, independent studies, face-to-face meetings, testimonials and fund raisers, the supporters of growing our economy, expanding employment, and capital formation continue to push for certainty around 1031 like-kind exchanges. It’s been an extensive and costly effort. Still, it’s August and once again, the frustration of the inaction in our nation’s capital remains a constant.
If bonus deprecation is extended or section 179 expanded, your company will likely determine the impact of this retroactive incentive bill. At the same time, what will this mean for 2016? What changes need to be made today in your business IF Congress does NOT act?  What if they do act?  What is the cost to your business if the changes impact your current tax position significantly? It is very hard, if not impossible, to build and thrive in today’s business climate by awaiting actions beyond your control.  Across the country, we are seeing tremendous growth in every business sector. The economy is expanding and businesses want to reinvest in growth, however the continued uncertainty is a huge obstacle to long-range planning.  IF the Highway Trust Fund bill eventually moves through Congress, IF the President signs off, IF the bill funds more than 15 months of emergency fixes to our infrastructure, IF IF IF! 
Contact Your Representatives
It’s crucial to remember that we are not out of the woods. Tax reform discussions will be back in 2016, so we need to educate Congressional leaders now as to why 1031s are important to your business and to the economy. Reach out and schedule in-district meetings with your representatives; meet them on your turf; let them hear you loud and clear that 1031 like-kind exchanges are a powerful tool you use in your business.  As a constituent, share with your elected officials your stories of growth and new employee-hiring numbers.  Describe your five year plan IF and ONLY IF they can provide certainty for you to plan your business.
The national associations to which you belong often provide tools and information to contact or identify your representatives. If they don’t, contact me. I’ll gladly give you the contact information you need as well as discuss talking points and strategy, and I would be happy to provide you with white papers and studies to support your discussion. The time to get involved and have Congress hear your voice is NOW!

Earlier in the year I discussed Congress’ intent to move toward tax reform.  Chairman Hatch of the Senate Finance Committee had announced bipartisan tax reform working groups in January with recommendations due in late May, a deadline that was postponed twice.  The writing was on the wall for “business only” tax reform with the intention of providing tax relief for corporations.  These proposals were met with dissension by the majority of U.S. businesses operating as pass-through entities.  Simultaneously, international tax reform was gaining momentum in parallel with the emptying of the highway trust fund coffers and the newly proposed international trade acts reforms. 
We’re Not Out of the Woods
President’s Green Book budget proposal also severely limits the use of 1031s.
What’s the old saying?  “History does not repeat itself, but it rhymes.”

As we watch this Congress work hard to keep promises by passing reforms, the always lingering question is still, “Who is going to pay for tax reform?” During last month’s discussions on transportation legislation, Senator Pat Roberts (R-Kan.) pointed out the increasing difficulty to find enough spending cuts to cover the costs of the long list of programs that need funding.
“We’re looking in every corner for every pay-for. It is just terribly difficult to find this kind of money, and we’re probably painted into the corner on a lot of different issues.”
1031s Should Not Be the Pay-For
Through multiple coalition efforts, the 1031 industry continues to pressure Congress to leave 1031 like-kind exchanges in their current state. Through letters, independent studies, face-to-face meetings, testimonials and fund raisers, the supporters of growing our economy, expanding employment, and capital formation continue to push for certainty around 1031 like-kind exchanges. It’s been an extensive and costly effort. Still, it’s August and once again, the frustration of the inaction in our nation’s capital remains a constant.
If bonus deprecation is extended or section 179 expanded, your company will likely determine the impact of this retroactive incentive bill. At the same time, what will this mean for 2016? What changes need to be made today in your business IF Congress does NOT act?  What if they do act?  What is the cost to your business if the changes impact your current tax position significantly? It is very hard, if not impossible, to build and thrive in today’s business climate by awaiting actions beyond your control.  Across the country, we are seeing tremendous growth in every business sector. The economy is expanding and businesses want to reinvest in growth, however the continued uncertainty is a huge obstacle to long-range planning.  IF the Highway Trust Fund bill eventually moves through Congress, IF the President signs off, IF the bill funds more than 15 months of emergency fixes to our infrastructure, IF IF IF! 
Contact Your Representatives
It’s crucial to remember that we are not out of the woods. Tax reform discussions will be back in 2016, so we need to educate Congressional leaders now as to why 1031s are important to your business and to the economy. Reach out and schedule in-district meetings with your representatives; meet them on your turf; let them hear you loud and clear that 1031 like-kind exchanges are a powerful tool you use in your business.  As a constituent, share with your elected officials your stories of growth and new employee-hiring numbers.  Describe your five year plan IF and ONLY IF they can provide certainty for you to plan your business.
The national associations to which you belong often provide tools and information to contact or identify your representatives. If they don’t, contact me. I’ll gladly give you the contact information you need as well as discuss talking points and strategy, and I would be happy to provide you with white papers and studies to support your discussion. The time to get involved and have Congress hear your voice is NOW!

Earlier in the year I discussed Congress’ intent to move toward tax reform.  Chairman Hatch of the Senate Finance Committee had announced bipartisan tax reform working groups in January with recommendations due in late May, a deadline that was postponed twice.  The writing was on the wall for “business only” tax reform with the intention of providing tax relief for corporations.  These proposals were met with dissension by the majority of U.S. businesses operating as pass-through entities.  Simultaneously, international tax reform was gaining momentum in parallel with the emptying of the highway trust fund coffers and the newly proposed international trade acts reforms. 
We’re Not Out of the Woods
President’s Green Book budget proposal also severely limits the use of 1031s.
What’s the old saying?  “History does not repeat itself, but it rhymes.”

As we watch this Congress work hard to keep promises by passing reforms, the always lingering question is still, “Who is going to pay for tax reform?” During last month’s discussions on transportation legislation, Senator Pat Roberts (R-Kan.) pointed out the increasing difficulty to find enough spending cuts to cover the costs of the long list of programs that need funding.
“We’re looking in every corner for every pay-for. It is just terribly difficult to find this kind of money, and we’re probably painted into the corner on a lot of different issues.”
1031s Should Not Be the Pay-For
Through multiple coalition efforts, the 1031 industry continues to pressure Congress to leave 1031 like-kind exchanges in their current state. Through letters, independent studies, face-to-face meetings, testimonials and fund raisers, the supporters of growing our economy, expanding employment, and capital formation continue to push for certainty around 1031 like-kind exchanges. It’s been an extensive and costly effort. Still, it’s August and once again, the frustration of the inaction in our nation’s capital remains a constant.
If bonus deprecation is extended or section 179 expanded, your company will likely determine the impact of this retroactive incentive bill. At the same time, what will this mean for 2016? What changes need to be made today in your business IF Congress does NOT act?  What if they do act?  What is the cost to your business if the changes impact your current tax position significantly? It is very hard, if not impossible, to build and thrive in today’s business climate by awaiting actions beyond your control.  Across the country, we are seeing tremendous growth in every business sector. The economy is expanding and businesses want to reinvest in growth, however the continued uncertainty is a huge obstacle to long-range planning.  IF the Highway Trust Fund bill eventually moves through Congress, IF the President signs off, IF the bill funds more than 15 months of emergency fixes to our infrastructure, IF IF IF! 
Contact Your Representatives
It’s crucial to remember that we are not out of the woods. Tax reform discussions will be back in 2016, so we need to educate Congressional leaders now as to why 1031s are important to your business and to the economy. Reach out and schedule in-district meetings with your representatives; meet them on your turf; let them hear you loud and clear that 1031 like-kind exchanges are a powerful tool you use in your business.  As a constituent, share with your elected officials your stories of growth and new employee-hiring numbers.  Describe your five year plan IF and ONLY IF they can provide certainty for you to plan your business.
The national associations to which you belong often provide tools and information to contact or identify your representatives. If they don’t, contact me. I’ll gladly give you the contact information you need as well as discuss talking points and strategy, and I would be happy to provide you with white papers and studies to support your discussion. The time to get involved and have Congress hear your voice is NOW!