Senate Considers Limit On Some Exchanges

There are many advantages to utilize a personal property exchange.   A tax-deferred like-kind exchange of personal property allows a corporate or individual taxpayer to sell their existing personal property and acquire more profitable and/or productive personal property (of like kind) while deferring Federal, and in most cases, State capital gain income tax liabilities.
 
To qualify for exchange treatment, personal property assets must be either “like-kind” or “like-class”.  Tangible depreciable personal property is considered “like class” if it falls within the same General Asset Class or Product Class as described in Sectors 31 through 33 of the North American Industry Classification System (NAICS).
 
Exchanges involving tangible depreciable or non-depreciable personal property assets include such assets as industrial machinery, aircraft, passenger vehicles, trucks, collectibles, artwork, construction and agricultural equipment, racehorses and livestock, marine vessels and electric generation equipment.  Additionally, clients can exchange “like kind” intangible personal property assets such as broadcast spectrums, franchise licenses, wireless telephone licenses, and copyrights of books, music and software.
 
Personal Property exchanges are very specialized and require someone with extensive experience....Accommodator Finance Co. has the expertise and knowledge to handle your personal property exchange needs.  Please feel free to contact Brenda Rosado at (866) 357-1031.
 

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Contact our team:  Kevin Levine | Pamela Baldwin-Flores | Brenda Rosado