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New Name Reflects Business of Increasing Cash
Flow Using Innovative Technology to Provide Tax Solutions
– To
better reflect the value it delivers to its clients, e-LKE, LLC,
today announced that the company is changing its name to Accruit,
LLC. Accruit is a leading financial transaction eBusiness. The company’s
hosted solution defers millions of dollars in taxes each year for
clients by automating the complex Section 1031 like-kind exchange
process while meticulously following IRS requirements.
“Our new name reflects
our business goal of helping customers accrue
savings by deferring taxes,” said Brent
Abrahm, Accruit CEO. “We are transforming
the 1031 exchange market with our hosted, web-based,
Exchange Manager‰, which is the only product
offering businesses a complete like-kind exchange
management solution.”
A first-of-its-kind innovation,
Accruit’s patent-pending Exchange Manager
is an online, hosted system that fully automates
the transaction management and accounting for
like-kind exchanges, enabling like-kind exchange
treatment for virtually any asset sold at any
location. This ASP-type service provides transaction
and cash management, the required Internal Revenue
Code notifications, automated matching and identification
of replacement property, and the complete asset
and accelerated depreciation accounting allowed
for these types of transactions. Exchange Manager
streamlines the like-kind exchange process for
all parties involved, allowing companies for
the first time to cost effectively complete 1031
exchanges for the multi-billion dollar used business
equipment market.
“Many companies miss
opportunities for 1031 like-kind exchanges because
of the resources required to attend to the complex
process,” Accruit President, Dan Morgan
added. “Exchange Manager takes the risk
and the complexity out of the process, and the
tax-dollar savings goes straight to the bottom
line.”
In the past, companies have restricted the use of like-kind exchanges to real
estate and to big-ticket equipment sales such as airplanes and heavy equipment.
With the simple, secure, and affordable Exchange Manager, companies now have
the ability to maximize the benefit of like-kind exchanges by using the automated
process it provides for almost any asset they routinely replace.
Headquartered near Denver,
Colorado, Accruit, LLC, is a financial transaction
eBusiness, providing hosted solutions that save
companies money. The company’s flagship
product, Exchange Manager, automates 1031 like-kind
exchanges, a transaction that allows corporations
to replace existing assets with assets of a similar
kind while deferring gain on disposition of the
used assets and reducing tax liability. Exchange
Manager fully automates the like-kind-exchange
process – from transaction and cash management,
to the notification, matching, identification,
and complete asset and depreciation accounting
required for these transactions. With Exchange
Manager, Accruit saves its clients millions of
dollars each year while dramatically reducing
client resources required for tracking and reporting
like-kind exchanges to the I.R.S. For more information
on Accruit or Exchange Manager, call 720-963-5000
or visit www.accruit.com.
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