Butler, Wis.-based Aring Equipment Co., the Volvo Construction Equipment dealer for Wisconsin and the upper peninsula of Michigan since 1939, engaged Accruit, LLC, of Denver, to design, implement and administer a repetitive 1031 Like-Kind Exchange (LKE) program. While Accruit captured LKE benefit for Aring almost immediately, Aring’s tailored program was fully implemented in under two months.
“Accruit’s diverse LKE service portfolio allowed us to tailor a program that perfectly suits our business processes and goals,” said Jeff Lemanczyk, Aring Equipment’s chief financial officer. “Our tax advisors worked directly with Accruit to establish a program that addressed all of our needs. From cash flow management options to tracking step-in-the-shoes depreciation; everything complimented our business.”
Accruit is a full-service 1031 Exchange provider solely dedicated to personal property exchange management. Originally designed for the heavy equipment industry, Accruit now actively manages more than $3.2 billion in LKE assets and processes over 105,000 LKE transactions per year.
Aring Equipment is the Volvo construction equipment dealer for Wisconsin and recently the upper peninsula of Michigan. It carries Volvo wheel loaders, articulated haulers, motor graders, wheeled excavators, skid-steer loaders, backhoe loaders, and compact excavators.
In addition to Volvo, Aring is a distributor for Cedarapids crushers and pavers, Powerscreen and Gilcrest pavers, Lippmann and Masaba crushing equipment, EIW aggregate processing equipment, CMI paving and pavement production equipment, Krebbs cyclone pumps for mining equipment, Greystone wash plants and conveyors, Etnyre chip spreaders and oil distributors, Broce booms, Trail King trailers, and Esco buckets and teeth.