<p>Last week, several members of Accruit joined other industry colleagues at the annual FEA conference in Chicago to hear about the latest updates regarding tax reform and the potential impact to 1031s.&nbsp;Through the efforts of the 1031 Coalition, the 1031 industry was successful in ensuring capping <strong>1031s were not</strong> part of the revenue offsets presented by the House of Representatives earlier this month. This is a positive outcome as we typically see the Senate follow the lead on tax offsets from the House. &nbsp;Furthermore, on the Senate floor last month, Senator Kennedy (LA) submitted an amendment during a “vote-a-rama” to retain 1031s in their current state. Per the request of Senate Finance Chairman Wyden (OR) the vote was taken as a voice-vote and received unanimous support from all Senators.</p>

<p>This week, <a href="https://www.accruit.com/about/meet-team/brent-abrahm&quot; target="_blank" title="Brent Abrahm Accruit 1031 Exchanges">Brent Abrahm</a>, Accruit President &amp; CEO, participated in three significant virtual calls with Senators to further underscore the importance of retaining 1031s as an effective stimulus for our country. &nbsp;Along with other members of the 1031 Coalition, critical points were made regarding the positive impact of 1031s. &nbsp;A few key supporting facts were highlighted in each call; &nbsp;<a href="https://www.accruit.com/property-owners/1031-exchange-explained&quot; target="_blank" title="1031 like-kind exchanges">1031 like-kind exchanges </a>allow the country to repurpose inefficient commercial properties, 1031s actually produce a positive economic benefit, increase income taxes, and create additional jobs by stimulating our economy, and any attempts to cap the 1031 provision is equivalent to repeal. &nbsp;Senators Bennet (CO), Tester (MT) and Kennedy (LA) all showed wide support and understanding of our data and points of impact.&nbsp;</p>

<p>The efforts are not over and work still needs to be done. &nbsp;Accruit will participate in additional Hill meetings in the coming weeks. &nbsp;We still ask that anyone who may be impacted by a change in the 1031 code, please <a href="https://1031buildsamerica.org/take-action/&quot; target="_blank" title="ACT NOW">ACT NOW</a> and share your support.</p>

<hr /><!--HubSpot Call-to-Action Code -->
<p style="text-align:center"><a href="https://cta-redirect.hubspot.com/cta/redirect/6205670/07878ab4-b454-43a…; target="_blank"><img alt="Start Your 1031 Exchange with Accruit today" class="hs-cta-img" height="350" id="hs-cta-img-07878ab4-b454-43ab-90e0-95efb684dc56" src="https://no-cache.hubspot.com/cta/default/6205670/07878ab4-b454-43ab-90e…; style="border-width:0px;" width="950" /></a></p>

<p>Last week, several members of Accruit joined other industry colleagues at the annual FEA conference in Chicago to hear about the latest updates regarding tax reform and the potential impact to 1031s.&nbsp;Through the efforts of the 1031 Coalition, the 1031 industry was successful in ensuring capping <strong>1031s were not</strong> part of the revenue offsets presented by the House of Representatives earlier this month. This is a positive outcome as we typically see the Senate follow the lead on tax offsets from the House. &nbsp;Furthermore, on the Senate floor last month, Senator Kennedy (LA) submitted an amendment during a “vote-a-rama” to retain 1031s in their current state. Per the request of Senate Finance Chairman Wyden (OR) the vote was taken as a voice-vote and received unanimous support from all Senators.</p>

<p>This week, <a href="https://www.accruit.com/about/meet-team/brent-abrahm&quot; target="_blank" title="Brent Abrahm Accruit 1031 Exchanges">Brent Abrahm</a>, Accruit President &amp; CEO, participated in three significant virtual calls with Senators to further underscore the importance of retaining 1031s as an effective stimulus for our country. &nbsp;Along with other members of the 1031 Coalition, critical points were made regarding the positive impact of 1031s. &nbsp;A few key supporting facts were highlighted in each call; &nbsp;<a href="https://www.accruit.com/property-owners/1031-exchange-explained&quot; target="_blank" title="1031 like-kind exchanges">1031 like-kind exchanges </a>allow the country to repurpose inefficient commercial properties, 1031s actually produce a positive economic benefit, increase income taxes, and create additional jobs by stimulating our economy, and any attempts to cap the 1031 provision is equivalent to repeal. &nbsp;Senators Bennet (CO), Tester (MT) and Kennedy (LA) all showed wide support and understanding of our data and points of impact.&nbsp;</p>

<p>The efforts are not over and work still needs to be done. &nbsp;Accruit will participate in additional Hill meetings in the coming weeks. &nbsp;We still ask that anyone who may be impacted by a change in the 1031 code, please <a href="https://1031buildsamerica.org/take-action/&quot; target="_blank" title="ACT NOW">ACT NOW</a> and share your support.</p>

<hr /><!--HubSpot Call-to-Action Code -->
<p style="text-align:center"><a href="https://cta-redirect.hubspot.com/cta/redirect/6205670/07878ab4-b454-43a…; target="_blank"><img alt="Start Your 1031 Exchange with Accruit today" class="hs-cta-img" height="350" id="hs-cta-img-07878ab4-b454-43ab-90e0-95efb684dc56" src="https://no-cache.hubspot.com/cta/default/6205670/07878ab4-b454-43ab-90e…; style="border-width:0px;" width="950" /></a></p>

<p>The White House recently released details of President Joe Biden’s proposed $1.8 trillion American Families Plan. The Plan includes a cap on gains deferred through a 1031 exchange as a way to defray part of the Plan's overall cost. The proposed limitation to 1031 exchanges would negatively impact American families and businesses.</p>

<p>This week, House Ways and Means Chairman Richard Neal notified the Committee’s members to be ready for the Committee reconciliation markup September 9-14. The Committee's mark-up of their portion of the reconciliation bill will include all tax-related items in the legislation -this may include the proposed cap on Section 1031.</p>

<p>By clicking 'take action today' below you can quickly and easily send a letter to your representatives to let them know they should preserve Section 1031 rules and regulations in their current state.</p>
<!--HubSpot Call-to-Action Code -->

<p style="text-align:center"><a href="https://cta-redirect.hubspot.com/cta/redirect/6205670/c8b34ccf-32da-4e5…; target="_blank"><img alt="Take Action to Support 1031 Exchanges" class="hs-cta-img" height="48" id="hs-cta-img-c8b34ccf-32da-4e58-9728-5f4fcc14a855" src="https://no-cache.hubspot.com/cta/default/6205670/c8b34ccf-32da-4e58-972…; style="border-width:0px;" width="216" /></a></p>

<hr />
<p class="text-align-center"><a aria-label="Take Action To Protect 1031 Exchanges" href="https://info.accruit.com/hubfs/Take%20Action%20to%20Support%20Section%2…; title="Take Action To Protect 1031 Exchanges"><u><strong>For those who wish to submit a letter directly to members of the House Ways &amp; Means Committee, we have included a link to a letter template and a list of majority members' contact information.</strong></u></a></p>

<hr />
<p>&nbsp;</p>

<p>The White House recently released details of President Joe Biden’s proposed $1.8 trillion American Families Plan. The Plan includes a cap on gains deferred through a 1031 exchange as a way to defray part of the Plan's overall cost. The proposed limitation to 1031 exchanges would negatively impact American families and businesses.</p>

<p>This week, House Ways and Means Chairman Richard Neal notified the Committee’s members to be ready for the Committee reconciliation markup September 9-14. The Committee's mark-up of their portion of the reconciliation bill will include all tax-related items in the legislation -this may include the proposed cap on Section 1031.</p>

<p>By clicking 'take action today' below you can quickly and easily send a letter to your representatives to let them know they should preserve Section 1031 rules and regulations in their current state.</p>
<!--HubSpot Call-to-Action Code -->

<p style="text-align:center"><a href="https://cta-redirect.hubspot.com/cta/redirect/6205670/c8b34ccf-32da-4e5…; target="_blank"><img alt="Take Action to Support 1031 Exchanges" class="hs-cta-img" height="48" id="hs-cta-img-c8b34ccf-32da-4e58-9728-5f4fcc14a855" src="https://no-cache.hubspot.com/cta/default/6205670/c8b34ccf-32da-4e58-972…; style="border-width:0px;" width="216" /></a></p>

<hr />
<p class="text-align-center"><a aria-label="Take Action To Protect 1031 Exchanges" href="https://info.accruit.com/hubfs/Take%20Action%20to%20Support%20Section%2…; title="Take Action To Protect 1031 Exchanges"><u><strong>For those who wish to submit a letter directly to members of the House Ways &amp; Means Committee, we have included a link to a letter template and a list of majority members' contact information.</strong></u></a></p>

<hr />
<p>&nbsp;</p>

<p>The White House recently released details of President Joe Biden’s proposed $1.8 trillion American Families Plan. The Plan includes a cap on gains deferred through a 1031 exchange as a way to defray part of the Plan's overall cost. The proposed limitation to 1031 exchanges would negatively impact American families and businesses.</p>

<p>This week, House Ways and Means Chairman Richard Neal notified the Committee’s members to be ready for the Committee reconciliation markup September 9-14. The Committee's mark-up of their portion of the reconciliation bill will include all tax-related items in the legislation -this may include the proposed cap on Section 1031.</p>

<p>By clicking 'take action today' below you can quickly and easily send a letter to your representatives to let them know they should preserve Section 1031 rules and regulations in their current state.</p>
<!--HubSpot Call-to-Action Code -->

<p style="text-align:center"><a href="https://cta-redirect.hubspot.com/cta/redirect/6205670/c8b34ccf-32da-4e5…; target="_blank"><img alt="Take Action to Support 1031 Exchanges" class="hs-cta-img" height="48" id="hs-cta-img-c8b34ccf-32da-4e58-9728-5f4fcc14a855" src="https://no-cache.hubspot.com/cta/default/6205670/c8b34ccf-32da-4e58-972…; style="border-width:0px;" width="216" /></a></p>

<hr />
<p class="text-align-center"><a aria-label="Take Action To Protect 1031 Exchanges" href="https://info.accruit.com/hubfs/Take%20Action%20to%20Support%20Section%2…; title="Take Action To Protect 1031 Exchanges"><u><strong>For those who wish to submit a letter directly to members of the House Ways &amp; Means Committee, we have included a link to a letter template and a list of majority members' contact information.</strong></u></a></p>

<hr />
<p>&nbsp;</p>

<h2>FEA "The Voice of the 1031 Industry" Releases an Important Paper&nbsp;This Week!</h2>

<h3>Understanding the Impact of Depreciation on Like-Kind Exchanges</h3>

<p><em>"Like-kind exchanges under IRC §1031 support investment in commercial and residential real estate and encourage preservation of family-owned farms, ranches, and forestland. Like-kind exchanges provide deferral, not elimination, of tax. By preserving cash flow, section 1031 encourages taxpayers to divest properties that are under-utilized, inefficient, or that simply do not meet current needs, with replacement properties that will permit businesses to grow and thrive." </em>Read the complete article to learn more.</p>

<p>(Quote and Article Credit: FEA | Federal Exchange Accommodators)</p>

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<p><em>"It was important for the FEA to publish a piece that provides clarity to the accounting and depreciation impact of 1031 transactions. I was pleased to collaborate with Suzanne Baker, from IPX1031 on this paper."</em></p>

<p>- <strong>Brent Abrahm</strong>, President &amp; Chief Executive Officer | Accruit</p>
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<p><em><strong>Click to view and download the full article! -&nbsp;</strong></em><a href="https://f.hubspotusercontent20.net/hubfs/6205670/FEA%20Understanding%20…; target="_blank" title="FEA Understanding the Impact of Depreciation on Like-Kind Exchanges">FEA Understanding the Impact of Depreciation on Like-Kind Exchanges</a></p>