Mr. Penner graduated from the Arizona State University School of Business with a B.S.-Accounting in 1977.  He has spent seven years in public practice including tenures as a Shareholder in a Ft. Collins, Colorado firm and more recently as a Tax Manager for Gallant, Farrow & Greene, CPA's of Phoenix, Arizona.  His specialties included real estate, pension and profit-sharing and individual tax planning.

Thereafter, he managed the holdings of a private individual and related entities whose net equity would be in Arizona's top 50 public companies, were they not privately held.  The firm held notes, developed and unimproved land, operated retail entities and did resort and golf course financing as well as lot banking.
                   
Mr. Penner's practice is now in Prescott, Arizona where he deals specifically as a consultant to CPA's, Attorney's, Title Companies and Real Estate Brokers on tax-deferred exchange transactions related to Section 1031. He was awarded the first Certified Exchange Specialist CES® designation in Arizona and the second in the Country.  His firm, BP & A Holdings, Inc. acts as a Qualified Intermediary for transactions in almost every state as well as for Reverse and Improvement exchange transactions and has been in business since 1993. 

He is a member of the American Institute of CPA's, the Arizona Society of CPA's, and the Federation of Exchange Accommodators, where he is the former Chairman of the Ethics Committee and is on its Board of Directors as Treasurer and Vice-President for the Rocky Mountain region.  He is also the Co-Chairman of the FEA Certification Counsel, which is comprised of 12 industry experts charged with creation and administration of the CES® (Certified Exchange Specialist) national examination for qualified intermediaries and is Chair of the Continuing Education Committee of the CES® Council. He has lectured to such groups as the Federation of Exchange Accommodators, Yavapai College, the Prescott Area Association of Realtors, the Arizona Society of CPA's, numerous escrow and title companies, individual real estate offices and the Northern Arizona Title Officers Association and has for multiple editions, edited The Tax-Free Exchange of Real Estate segment of Real Estate Financing publication by Mathew Bender & Company, a member of the LexisNexis Group. 

Sarah A. Jacobs, Vice-President

Mrs. Jacobs has prior background knowledge and experience in title insurance, real estate and law.