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– The
Associated Equipment Distributors (AED), a membership association
of 1,000 organizations involved in the distribution of construction
equipment and related products and services, and Accruit, LLC, the
only fully-integrated, web-enabled "qualified intermediary" for
repetitive like-kind exchange programs, today announced that Accruit
has been named AED's Preferred Provider for like-kind exchange services.
Like-kind exchanges (LKE), or 1031's, allow dealers to defer taxable
gains realized on the sale of rental equipment when the owner replaces
the equipment with similar or "like kind" rental equipment.
"AED has an important role to play in the education of our members regarding
changes in tax law", says Toby Mack, President of AED. "The impending
expiration of the Bonus Depreciation made the identification of opportunities
to deal with this potential problem a high priority for AED."
AED's Vice President of Finance & Administration, Garry Bartecki, added, "AED
found Accruit to be the right Preferred Provider of LKE services for our membership
because it has integrated its qualified intermediary and treasury / cash management
services with its comprehensive asset tracking software application. This tightly
wrapped package is of real value for our members. A solution without this level
of integration leaves a huge burden for a dealership's financial staff to make
it complete."
Craig McSavaney, Accruit's CEO said, "Accruit is honored to have been chosen
by the AED as a Preferred Provider. The AED is a first-class organization, and
we are very proud to be associated with them." McSavaney adds, "Bonus
depreciation has provided a huge stimulus to AED's members as intended, but its
impending expiration threatens to reverse that stimulus. Accruit's Like-Kind
Exchange service helps those dealers 'lock in' and, in most cases, increase the
positive impact of bonus depreciation and keep the tax savings working for the
dealer."
About AED
AED (Associated Equipment Distributors) is an association of
distributors and other organizations involved in the distribution
of equipment, products and services used in construction, mining,
highway, forestry, agriculture, power generation and industrial
applications in North American and throughout the world. For more
information about AED, call 630-574-0650 or visit www.aednet.org.
About Accruit
Accruit, LLC, headquartered in Denver, Colorado is the only
provider of fully-integrated, web-enabled qualified intermediary
services to enable companies to conduct like-kind exchanges for
both personal and real property. The company's flagship software
application, the Accruit Exchange Manager™, fully automates
the like-kind exchange process – from transaction and cash
management to the complete asset and tax depreciation tracking
required for these transactions. Using the Accruit Exchange Manager™,
Accruit's clients realize a significant increase in cash flow,
while dramatically reducing the resources required for tracking
and reporting like-kind exchanges. For more information on Accruit
or the Accruit Exchange Manager™, call 720-963-5006 or visit
www.accruit.com. |
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