|
February 3, 2005 – ROANOKE, VA – JW
Burress Inc., (www.jwburress.com)
serving the heavy construction industry in the Mid-Atlantic for
over 70 years, has engaged Accruit, LLC (www.accruit.com) of
Denver to design, implement, and administer an innovative repetitive
like-kind exchange program to reduce JW Burress's tax bill on
the replacement of the company's rental equipment fleet while
drastically improving cash flow.
"Accruit offers the most efficient and complete solution for deferring taxes
on the sale our capitalized rental fleet," said Steve Reynolds, J.W. Burress's
Vice President and CFO. "We run a very lean operation so Accruit's full
service offering fits right in with our eye on the bottom line".
Accruit is the only fully integrated, web-enabled qualified intermediary in the
U.S. providing full like-kind exchange management services. Craig McSavaney,
Accruit's CEO, explained that the company's flagship software application, the
Accruit Exchange Manager™, fully automates the like-kind exchange process – from
transaction and cash management to complete asset and tax depreciation tracking.
"The fact that the AED (Associated Equipment Distributors) has selected
Accruit as the associations Preferred Provider, only reinforces our decision
that we made the right selection", adds Richard Dudley, J.W. Burress's President
/ CEO. "Accruit's full service enables us to easily capture significant
cash flow and, at the same time, stay focused on running our business."
McSavaney said using the Accruit Exchange Manager™, Accruit's clients realize
a significant increase in cash flow with dramatically less administrative burden
than any other like-kind exchange solution. JW Burress joins Accruit's rapidly
growing list of heavy equipment dealers and leasing companies who see the value
in Accruit's unique fully integrated, full-service like-kind exchange offering,
McSavaney said.
|
|
|
