Accruit’s Commitment and Leadership Role in Serving the 1031 Exchange Market

Accruit is proud to announce the appointment of Senior Managing Director, Steve Chacon, to the position of Treasurer of the Federation of Exchange Same as intermediary, facilitator, or Qualified Intermediary. The party who facilitates a tax-deferred exchange by acquiring and selling property in an exchange to aid the taxpayer in complying with Section 1031 and all applicable rules. Accommodator s (FEA). Chacon will serve on the Board of Directors as he continues to reinforce the Accruit team’s commitment to protecting Internal Revenue Code §1031 and 1031 Like-Kind Exchanges (LKEs).

“Steve continues to be a leading expert in the field,” said President and CEO of Accruit, Brent Abram, who is also an FEA board member and FEA past-president, “We are pleased to see him on the FEA Executive Board and we’re excited to see what his knowledge will bring to the table.”

Customer Benefits

With such close ties to the organization that serves as the voice for the 1031 exchange industry, Accruit’s ability to serve our clients will be enhanced almost immediately in several key areas:

1. Accruit will help our clients understand and adopt new tools and resources as they are implemented.  Stay up to date on 1031 Refers to the "nature or character" of the property and not to its "grade or quality." That is, real property held for investment or the productive use in a trade or business may generally be exchanged on a tax-deferred basis for other real property. Personal property held for investment or the productive use in a trade or business may generally be exchanged on a tax-deferred basis for other personal property, provided the personal property is of "like kind" or "like class." Professional tax advice should be obtained when planning exchanges. Like-Kind Exchange IRC with precise information and best practices provided by Accruit.
2. By actively engaging with federal and state legislators, Accruit can ensure that the tax-saving strategy of a 1031 LKE will remain as a benefit for our clientele. The appointment of Chacon grants us even deeper influence and knowledge that puts Accruit at the forefront of the industry.

Read the full press release or Talk to Accruit about a 1031 Refers to the "nature or character" of the property and not to its "grade or quality." That is, real property held for investment or the productive use in a trade or business may generally be exchanged on a tax-deferred basis for other real property. Personal property held for investment or the productive use in a trade or business may generally be exchanged on a tax-deferred basis for other personal property, provided the personal property is of "like kind" or "like class." Professional tax advice should be obtained when planning exchanges. Like-Kind Exchange today.