WAATP Signature Monthly Meeting - 1031 Exchanges: Exchange Requirements and Best Practices

Presented by Washington Association of Accounting and Tax Professionals 

Tuesday, November 5, 2024 Webinar

Event schedule: 

• Beginning of Webinar: 11:00 am
• 1031 Exchanges: Exchange Requirements and Best Practices Webinar : 11:00 am - 12:00 pm
• Round Table and Q&A: 12:00 pm - 12:30 pm

Speaker:

  Paul  Van Every, Investment Property Exchange Services Inc ( IPX 1031 ), Pacific Northwest Sales Manager

Paul M. Van Every, Senior Vice President, is the Pacific Northwest Sales Manager for Investment Property Exchange Services, Inc. Paul oversees the PNW territory of Washington, Oregon and Alaska and is responsible for IPX1031 sales covering Washington state. With over 20 years of management, commercial transactional real estate and 1031 experience, most recently as National Account Manager with Chicago Title National Commercial Services, Paul brings multi layered real estate expertise and insight to IPX1031. Paul received his BA from San Jose State University.

Location: Live Streamed Webinar

CPE Credits: TBD 

Course Description:  

Unlock the full potential of tax-deferral strategies with our in-depth course on 1031 Exchanges. This presentation will guide CPAs, tax preparers, real estate professionals, and financial advisors through the essential requirements and best practices of a 1031 exchange, providing you with a solid foundation to advise clients effectively.

Throughout this comprehensive course, we will explore key terminology, debunk common myths, and dive into the specifics of 1031 exchanges. We will break down the critical elements such as the like-kind requirement, timelines, identification rules, and taxpayer requirements, ensuring participants understand how to navigate these exchanges to defer taxes and optimize financial outcomes for their clients. Additionally, we'll address common misconceptions and cover advanced strategies, such as using a 1031 exchange to buy a dream home or leveraging a Delaware Statutory Trust.

Learning Objectives:

• Understand the fundamental terminology and concepts of tax-deferred 1031 exchanges
• Identify the like-kind property requirement and understand what does not qualify as like-kind property
• Recognize the key requirements to fully defer taxes through a 1031 exchange, including ownership length, timelines, and identification rules
• Learn about the same taxpayer requirement and why it is critical to a successful exchange
• Explore advanced strategies, such as using a Delaware Statutory Trust and buying a dream home with a 1031 exchange
• Gain insight into the role of a Qualified Intermediary (QI) and what to look for when selecting one

Key Topics:

• Tax-deferred exchange terminology
• Exchange myths
• What is a 1031 exchange?
• Length of ownership requirements
• The like-kind requirement and exclusions
• Requirements to defer all taxes
• 1031 exchange timelines
• Identification rules
• The same taxpayer requirement
• Top 10 misconceptions about 1031 exchanges
• Why choose a 1031 exchange?
• Buying a dream home through a 1031 exchange
• Understanding the Delaware Statutory Trust (DST)
• How to select the right Qualified Intermediary (QI)

Key Takeaways:

• Confidence in applying 1031 exchange strategies to defer capital gains tax
• Ability to advise clients on the specific requirements for a successful 1031 exchange
• Enhanced knowledge of advanced techniques and how to navigate complex scenarios

Attendee Requirements:

Who Should Attend:

• CPAs, EAs and Tax Preparers: Professionals who advise clients on tax strategies and need a deeper understanding of 1031 Exchanges.
• Also remember to invite your business colleagues who are Real Estate Professionals, Financial Planners, Property Investors, and Legal Professionals as they will benefit from this as well. 

If you would like to ask questions ahead of time please send them to [email protected] 

WAATP members, $0 

Non-members, $20 

Join WAATP today to receive a discount. 

Disclaimer:

Fees and Schedule - This WAATP Internet-Live webcast will begin and end promptly at stated time. 

 Cancellation and Refund Policy: Registration fees will be refunded in full for up to 3 days in advance of the seminar. Registrations may be transferred 1-3 days prior to the seminar date. NO REFUNDS/TRANSFERS WILL BE ISSUED AFTER THE SEMINAR MATERIALS AND WEBINAR LINK HAS BEEN SENT AND THE SEMINAR BEGINS. NO EXCEPTIONS