Atlanta, GA, USA - The Lessors Network today confirmed PricewaterhouseCoopers LLP ("PwC") has renewed their annual membership. PwC has been a member of the Lessors Network since 2006.
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John Semon, CEO for the Lessors Network commented, "Lessors Network Members currently include banks, independent lease finance companies, service providers and brokers active in the equipment lease finance markets. We are pleased to have PwC continue their relationship with our global equipment finance community and look forward to working with Rick Reekie and his team."
Internal Revenue Code Section 1031 allows taxpayers to defer federal income taxes on an exchange of like-kind properties held for business or investment purposes. 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 a like-kind exchange ("LKE") program to access the gain deferral allowed under Section 1031. Existing tax rules require the involvement of a third-party qualified intermediary ("QI") to facilitate the exchanges and to hold the cash from the disposal of the assets until it is needed to purchase replacement assets.
About PwC's Like-Kind Exchange Services
PwC-eLKE is a unique Like Kind Exchange solution that can allow your company to capture LKE tax benefits in an automated and cost effective manner.
Our national team of dedicated tax and technology professionals can assist your company in designing and implementing LKE solution that works best for your business, without requiring you to substantially change your current processes or devote significant time to managing the LKE program. The PwC-eLKE software manages the exchange process and performs the record-keeping required by stringent IRS regulations.
Through our experience in managing over thirty million LKE assets monthly, we have gained unmatched expertise in identifying and solving the unique issues that may arise in implementing an LKE program for your ongoing personal property activities.
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Contact: Rick Reekie - 214.999.2580
About The Lessors Network
The Lessors Network makes it easy for business leaders using the Internet to identify, evaluate and connect with the equipment lease finance markets. Multi-channel communications and networking platforms deliver maximum access to industry news, events, funding sources and service providers.
Lessors Network Membership currently includes banks, independent lease finance companies, service providers and brokers active in the equipment lease finance markets. Visit the Lessors Network - -