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August 9, 2005 – GREENVILLE, SC – Acme
Car Rentals of Greenville, SC, has engaged Accruit, LLC (www.accruit.com)
of Denver to implement and manage an innovative repetitive like-kind
exchange program to reduce their tax bill on the replacement of
rental vehicles and dramatically improve cash flow.
"Accruit offers the most efficient and complete solution for deferring taxes
on the sale of our rental fleet," said Connie Edens, CEO of Acme Car Rentals
and 35 year veteran of the industry. "Accruit's full service offering allows
us to significantly increase cash flow with minimal impact to our current business
procedures."
Accruit is the only fully integrated, web-enabled qualified intermediary that
provides full like-kind exchange management services. Craig McSavaney, Accruit's
CEO, explained, "the Accruit Exchange Manager™ fully automates the
like-kind exchange process – from transaction and cash management to complete
asset and tax depreciation tracking. Additionally, Accruit's dedicated Client
Service team minimizes the back office burden on our clients and ensures that
they realize the maximum possible cash flow benefit from their like-kind exchange
program."
"Accruit tailored its services to meet the needs of car rental companies
of our size," adds Edens. "Accruit's LKE solution provides more than
just software - the Accruit Client Services group is committed to maximizing
our cash flow benefit."
McSavaney said that by 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. Acme Car Rentals joins Accruit's
rapidly growing clientele of car rental companies, heavy equipment dealers and
leasing companies who recognize the value in Accruit's unique and fully-integrated,
full-service like-kind exchange offering.
Accruit will be participating in a panel discussion titled "Repetitive Like-Kind
Exchanges: Tax strategy to increase cash flow" at the Car Rental Show in
Las Vegas, September 13th at 4:30 p.m.
About Acme Car Rentals
Acme Car Rentals, Inc. has been a National Car Rental location
in Greenville, S.C. since 1964, and an Alamo Car Rental location
since 2002. Connie is currently a member of the Tennant Group,
and Chairperson of the Rental Customer Advisory Council of Empire
Insurance Companies.
About Accruit
Accruit, LLC, headquartered in Denver, Colorado, is the country's
only full service like-kind exchange management company. 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. For more information
on Accruit, call 720-963-5010 or visit www.accruit.com. |
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