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1031 Exchanges - Advisors May Need Updated Information

By
Services for Real Estate Pros with The Law Offices of Elisabeth A. Lambert 236274

Does Your Advisor Need the Most Up to Date 1031 Information?

Tax advisors like doctors and attorneys frequently have specializations. Some CPAs work primarily with businesses who don't own appreciated property, so they aren't up-to-date about what's happening in the 1031 exchange world. It does not mean they are a bad advisor, it just means they need to find a resource that speaks to them in their technical language, so that they can adequately advise their clients. If your client is working with a CPA or accountant who needs up-to-date technical information send them to

http://apiexchange.com/index_main.php?id=8&idz=19 For a 700 page comprehensive Tax/Legal Reference Manual that addresses all major 1031 issues their clients may face.

If you are an agent, you should actively cultivate at least three CPAs who have a large roster of clients that own real property. You may need to refer a client to a tax advisor and as you work closely with the tax advisor it could lead to referrals to you as well. Stay up-to-date yourself with what's happening in the 1031 world so you can recognize when your clients need that referral to an advisor.

Feel free to contact me any time 877-646-1031 or LisaL@apiexchange.com

Lisa Lambert, Esq. (1031 Exchange Expert), Asset Preservation, Inc.

Comments (2)

Jeff Fullmer
FM Properties - Idaho Falls, ID
Real Estate Investor/Financier
Great information Lisa. Its so important to stay updated! Don't make the mistake of thinking your CPA knows everything, they don't. Once you point things out though, they generally will look into it. 
Apr 02, 2008 03:55 AM
Lisa Lambert
The Law Offices of Elisabeth A. Lambert - Fresno, CA
Esq. 1031 Exchange Expert

Jeff:

Thanks for the great comment. You're right. It's impossible for your CPA to know EVERYTHING about EVERYTHING.

Lisa

Apr 02, 2008 04:49 AM