MEREDA’s Morning Menu – Understanding Cost Segregation and 1031 Tax-Deferred Exchanges

January 30, 2025 – 8:30 – 10:00 am
Buffet Breakfast: 8:30-9:00 am
Program: 9:00-10:00 am

Location: 
McGoldrick Career & Student Success Center
35 Bedford Street, Portland, ME

About the Event:

MEREDA is excited to welcome two experts in their respective fields of Cost Segregation and 1031 Tax-Deferred Exchanges.   Join us on January 30th at the McGoldrick Career & Student Success Center in Portland to learn more about each of these significant tax saving tools.

Introduction to Cost Segregation and Significant Tax Savings
Come discover how owners of commercial real estate have been offsetting their taxable income down to $0 and doing it legally with an IRS-approved tax strategy called Cost Segregation.  Blessed by the IRS in 2004, Cost Segregation allows for the acceleration of depreciation deductions via reallocation of certain real property assets from long lives (27.5- or 39-years) to short-lives (5-, 7-, or 15-years)…naturally, depreciating assets over shorter class lives is more beneficial because larger annual deductions are generated, and therefore, more taxable income is able to be offset (i.e. – tax savings!). 

Understanding 1031 Tax-Deferred Exchanges: The Investment Real-Estate Tool for Preserving Net Wealth
Carol Redfern, Manager of Maine Exchange Services, LLC and Certified Exchange Specialist with the Federation of Exchange Accommodators, explains the necessity and application of 26 U.S. Code § 1031 allowing qualified taxpayers to completely or partially defer their Capital Gains taxes. This presentation will cover the basic qualifiers, rules, and regulations of the 1031 Tax-Deferred Exchange as well as the three primary exchange pathways: Forward Exchanges, Reverse Exchanges, and Improvement Exchanges. Maine Exchange Services, LLC holds Maine’s Exchange Facilitator License #1 and is the only Maine based member of the Federation of Exchange Accommodators.

Meet our Presenters:

Frank Giudici is a Sr. Business Development Director for the Source Advisors Team and although originally from New England is now based in Upstate New York. Prior to joining Source Advisors, Frank received his Bachelor’s Degree in Civil Engineering from Worcester Polytechnic Institute (WPI) and then spent 13-years in the Construction Management industry working throughout the Northeast on a variety of project types in several roles.  Frank’s expansive construction background paired with his well-versed communication and detail-oriented nature bodes well for enriching peoples’ lives through Source Advisors’ specialty tax services, most notably Cost Segregation. Source Advisors is a top (3) provider of Cost Segregation and employs (6) of the ONLY (51) active Certified Cost Segregation Professionals (CCSPs) nationally.

Carol A. Redfern is a Certified Exchange Specialist (CES) with extensive experience managing the day-to-day operations of Maine Exchange Services, LLC. Carol earned a bachelor’s degree in accounting from the University of Southern Maine and has been working alongside attorneys Tom Jewell and Paul Bulger since 2017. Notably, Carol and Maine Exchange Services are the only Maine-based members of the Federation of Exchange Accommodators, further demonstrating her expertise in the field. Outside of her professional life, Carol enjoys relaxing at her home on Little Sebago Lake with her husband, Peter, and their two dogs, Duke and Aldo.

Refund Policy: Your RSVP is requested by January 23. Payment is expected at the time of registration. No refunds will be granted to anyone who registers, but fails to attend, or who cancels after January 23.

Prices increase by $10 after January 23.

Thank you to our Breakfast Series Sponsor: