Members of the American Car Rental Association met with U.S. senators, representatives, and their aides last week. Here’s why bringing the message to this forum matters.
WTP Exchange, a provider of like-kind exchange (LKE) services, has been admitted as a member of the Lessors Network, a group designed to keep the equipment lease finance community informed of breaking news and regulatory updates.
The Auto Rental News website features a white paper promoting WTP Advisors’ like kind exchange (LKE) program.
The new IRS ruling (201308020) makes it clear that WTP Exchange is permitted under the tax law to provide both Like Kind Exchange (LKE) software and qualified intermediary services. LKE is a common tax-deferred exchange used by businesses.
Craig Schultz will join the team and has for the last two decades provided consulting services related to like-kind exchange programs and forensic accounting.
Businesses with extensive asset portfolios that routinely dispose of assets on a regular basis at a gain (e.g., equipment leasing or rental car companies) may decide to set up an LKE program to access the gain deferral allowed under Section 1031.
Budget licensee uses like-kind exchange program to avoid a tax burden for 2012 as a result of the discontinuation of bonus depreciation.