CINCINNATI, Feb. 1, 2017 /PRNewswire/ -- WTP Exchange LLC, a leader in providing Like-Kind Exchange (LKE) program software and services, today announced it has successfully completed the SSAE-16 Service Organization Controls (SOC) 1 Type II audit, with no exceptions. The audit was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants.
"In 2013, we proactively met with the IRS National Office in Washington and obtained a favorable private letter ruling in support of the way we structure our clients' LKE programs. Our IRS ruling provided our clients with a level of certainty in an uncertain tax world," says Ron Hodgeman, managing partner of WTP Exchange. "By successfully completing our SSAE-16 audit, we have once again demonstrated our commitment to providing our clients with the highest standards in process, controls and procedures."
WTP Exchange is the only firm in the world to offer a fully-integrated LKE program solution. In addition to its world-class software built on more than 25 years of LKE program experience, WTP Exchange provides LKE tax consulting services, and Qualified Intermediary (QI) services. The company's clients include capital-intensive companies such as heavy equipment dealers, car rental companies, fleet lessors, financial institutions, and trucking companies.
"President Trump and the Republican-controlled Congress are confident that tax rates will be significantly reduced in the near future. As a result, now is not the time to pay tax! By taking advantage of our proven LKE program solution, companies can defer the tax gains realized when disposing of business assets and obtain a substantial permanent benefit from recognizing the gains after tax rates have been cut," says Hodgeman.
About WTP Exchange
WTP Exchange is a leader in providing cloud-hosted LKE program software and services. The company is focused on helping its clients reduce their current tax liability and increase cash flow. Any sale of business or investment property potentially qualifies under section 1031 of the Internal Revenue Code to be structured as a tax-deferred exchange. By taking advantage of an LKE program, a company will pay less tax and have more cash available to grow their business.
For further information, please contact:
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/leading-like-kind-exchange-provider-completes-ssae-16-audit-300400680.html
SOURCE WTP Exchange