Associated Equipment Distributors, the world’s largest trade association for construction equipment distributors, has selected WTP Advisors’ LKE affiliate, WTP Exchange, as AED's preferred provider for like-kind exchange services. WTP Advisors is a global tax and business advisory firm.
WTP Exchange offers a fully integrated LKE program solution. In addition to its software, which was built on more than 25 years of LKE program experience, WTP Exchange provides LKE tax-consulting services, and qualified intermediary services.
“AED is continually pursuing means to enhance our members’ business interests and help them improve their profitability,” said AED president and CEO Toby Mack. “In this economy, distributors rely on tax strategies that impact their bottom lines, and like-kind exchange is a proven strategy that can result in substantial tax savings.”
Under Internal Revenue Code Section 1031, no gain or loss is recognized when companies sell business property and acquire property that is like-kind. For AED members, this means that dealers that routinely dispose of heavy equipment and vehicles can realize substantial benefits from an LKE program.
AED is an international trade association representing companies involved in the distribution, rental and support of equipment used in construction, mining, forestry, power generation, agriculture and industrial applications. AED is co-headquartered in Washington, D.C., and Oak Brook, Ill.
WTP Advisors is a provider of tax and business advisory services for a global marketplace. It is headquartered in White Plains, N.Y., with offices across North America, Asia and Europe.