The Associated Equipment Distributors has selected WTP Exchange as its preferred provider for Like-Kind Exchange services. WTP Exchange is an affiliate company of WTP Advisors, a global tax and business advisory firm.
Under Internal Revenue Service code, no gain or loss is recognized when companies sell business property and acquire property that is like-kind. For AED members, this means dealers that routinely dispose of heavy equipment and vehicles can realize substantial benefits from an LKE program.
“With the fiscal cliff fast approaching, our members are interested in strategies that can help them increase cash flow and improve their profitability,” said AED president and CEO Toby Mack. “An LKE program is one of the few proven tax solutions that dealers can rely on during these uncertain times.”
In addition to software built on more than 25 years of LKE program experience, WTP Exchange provides LKE tax consulting services and qualified intermediary services.
“With bonus depreciation completely expiring at the end of this year, our proven solution is needed now more than ever,” said Ron Hodgeman, tax attorney and LKE practice director at WPE Exchange. “Without an LKE program, an equipment dealer will likely recognize substantial tax gain every time it sells its used rental equipment.”
WTP Advisors is based in White Plains, N.Y.