Accruit has recently partnered with Amarillo-based EnergyNet, the industry's premier continuous oil and gas property marketplace, as their exclusive 1031 exchange solutions provider. We're obviously excited to be working with one of the O&G world's finest companies and we're looking forward to bringing the same powerful cash flow and asset management benefit to their clients that we have to hundreds of other businesses in recent years.
In turn, we highly recommend ...
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August 11th, 2010 by Sam SmithOil & Gas Workshops scheduled for Corpus Christi and Austin
August 6th, 2010 by Sam Smith
In June, Accruit partnered with CIMA Energy and EnRisk to present our first energy industry value capture workshop in San Antonio. The event was a success, and we promised that there were more dates to come. Those have now been announced.
We'll be at the Corpus Christi Town Club on September 15, and we'll be at the Austin Club the following day. The Independent Producer Value Capture Workshop presents ...
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New Hampshire enacts 1031 exchange reform bill
July 16th, 2010 by Sam Smith
The Federation of Exchange Accommodators (FEA) has received confirmation that the New Hampshire Governor John Lynch has signed SB 483 into law. According to the FEA:
The new law amends prior law, which deprived taxpayers of Section 1031 tax deferral on a state level if they purchased replacement property in the name of a new entity, notwithstanding that the acquiring entity was a disregarded entity. The typical situation would be that in which a taxpayer... (Read the rest of this entry)
IRS Chief Counsel Advisory 201025049: are there implications for your 1031 exchange program?
July 15th, 2010 by Brent Abrahm
Accruit is committed to closely monitoring the marketplace for factors that may have a potential impact on our clients and partners. The IRS recently issued a ruling that we believe is of interest to many companies with 1031 exchange programs, and we thought we'd take this opportunity to offer some details on that ruling.
It should be noted that this is not intended as tax advice - Accruit does not provide tax guidance. We do, however, ...
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Explaining 1031 exchanges to partners, customers, colleagues and friends
July 1st, 2010 by Sam SmithAll 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 ... (Read the rest of this entry)
FEA calls Federal regulation of Exchange Facilitators in financial reform bill a good start
June 24th, 2010 by Sam Smith
- Industry's only trade association supports strong regulation, looks forward to working with Consumer Financial Protection Bureau to craft consumer protection measures
President Obama is slated to sign the Consumer Financial Protection Act of 2010 (CFPA) into law in the coming days, and the Federation of Exchange Accommodators (FEA) believes the move is an important first step toward assuring comprehensive protection for all consumers. The FEA, the trade association representing the exchange facilitator industry, ...
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1031 Exchange Tips: a look at simultaneous exchanges (or swaps)
June 10th, 2010 by Steve ChaconEducation has always been a key component of the like-kind exchange (LKE) industry and frankly, it has always been one of the more enjoyable parts of my job. Despite the fact that the 1031 exchange business focuses on a very narrow part of the tax code, there will always be significant challenges associated with anything that involves the IRS. So for this month's 1031 Tips, I'm stepping back and reexamining the most basic type of 1031 exchange, the simultaneous LKE, ... (Read the rest of this entry)
O&G: Independent Producer Value Capture Workshop a big success in San Antonio
June 9th, 2010 by Sam SmithThese are challenging times for most independent oil and gas producers. Traditional competitive concerns are complicated by legislative and regulatory uncertainty, while difficult economic conditions have tightened access to operating capital for some companies. Strong, smart, strategically minded producers have weathered the storm, but even the best independent O&G businesses remain focused on the cash flow and tax liability issues that directly weigh on their future success. The good news: amidst the chaos and uncertainty, there are proven value-generation solutions that the ... (Read the rest of this entry)
IRS issues 45 and 180-day extensions for disaster areas in Mississippi, Tennessee and Alabama
May 11th, 2010 by Sam SmithThis just arrived via e-mail from the FEA:
The IRS has issued extension Notices for the following disaster areas (the Covered Disaster Areas) for storms beginning on the disaster date in bold: Mississippi (April 23): Attala, Choctaw, Holmes, Monroe, Oktibbeha, Union, Warren and Yazoo West Virginia: Fayette, Greenbrier, Kanawha, Mercer and Raleigh Alabama (April 24): DeKalb, Marshall and Walker Tennessee (April 30): Benton, Carroll, Cheatham, Chester, Clay, Crockett, Davidson, Decatur, DeKalb, Dickson, Dyer, Fayette, Gibson, Hardeman, Hardin, Haywood, Henderson, Hickman, Houston, Humphreys, Jackson,... (Read the rest of this entry)
Accruit’s Junior Intern Seminar: Celebrating National Take Your Child to Work Day 2010
May 7th, 2010 by Sam SmithWe were joined in the office today by five talented young people, all of who show strong promise as business leaders of the future. Megan and Emily Shaver (whose dad, George, is Accruit's Chief Operations Officer), Brandon and Kirsten Salazar (mom Melissa is our Controller) and Owen Abrahm, son of CEO Brent Abrahm, heard presentations from representatives of each Accruit department, and by the end of the day they were pitching in and helping out with a variety of tasks. The ... (Read the rest of this entry)