July’s meeting of the Dallas Multi-Discipline Group featured guest speaker Scott Saunders, Vice President at Asset Preservation Inc. (API). API is a qualified 1031 exchange intermediary, and has overseen more than 160K exchanges to date. Scott explained to the group the tremendous values of 1031 exchanges, which allow investors to defer capital gains taxes, thus facilitating significant portfolio growth. Currently, API and various industry groups are lobbying the Joint Committee on Taxation to keep 1031 exchanges in the tax code. These exchanges are on the chopping block and are generally believed to have about a 50% chance of surviving tax reform.