Bramco Chooses WTP Advisors as Like-Kind Exchange Provider

WHITE PLAINS, N.Y., Oct. 31, 2011 /PRNewswire/ -- Bramco Inc., one of the largest construction, mining and industrial equipment sales, rental and service networks in the country, has chosen WTP Advisors' Like-Kind Exchange (LKE) affiliate, WTP Exchange, as its provider for LKE program services. WTP Advisors is an award-winning global tax and business advisory firm.

"Our company has chosen WTP Advisors as its single source Like-Kind Exchange provider due to their seamless LKE product solution, expertise in the industry and robust software that will handle our complex needs. In addition, WTP offers the right solution for our business in the current tax and business environment.  The WTP organization is perfectly sized, allowing for the nimble responsiveness and professional service that our company expects," says Michael D. Brennan, Executive V.P. and Chief Financial Officer of Bramco.

Under Internal Revenue Code Section 1031, no tax gain or loss is recognized when companies sell business property and acquire property that is like-kind.  For enterprises like Bramco, this means that routine disposals of heavy equipment and vehicles can increase their cash flow, and result in many other benefits from an LKE Program.

"Over my 15-year career, I have implemented numerous LKE programs for heavy equipment dealers," says Ron Hodgeman, the LKE practice leader at WTP Exchange.  "I am excited to be working with the highly-respected management team at Bramco."

Bramco's decision to move to WTP echoes a move made earlier this year by the Associated Equipment Distributors (AED), the world's largest trade association for construction equipment distributors, which selected WTP Exchange as AED's Preferred Provider for Like-Kind Exchange (LKE) services.

"Bramco is a key player in the equipment distribution industry, and we are honored by their decision to endorse WTP Advisors for Like-Kind Exchange services," says Ian Boccaccio, partner and co-founder of WTP Advisors.  

WTP Exchange is the only firm in the world to offer a fully-integrated LKE program solution.  

WTP Advisors is a leader in tax and business advisory services for a global marketplace. Our highly skilled professionals equipped with years of industry experience, coupled with our cutting-edge technologies, make substantive and long-term differences to an organization's profitability. WTP Advisors is headquartered in White Plains, N.Y., with offices across North America, Asia and Europe. WTP Advisors has received numerous accolades for its burgeoning success, much of which stems from its dedication to client service. Inc. magazine ranked WTP Advisors in the top 15 percent of its fifth annual Inc. 500|5000, an exclusive ranking of the nation's fastest-growing private companies. WTP was also recognized by Fortune magazine in its David vs. Goliath column, which touted WTP's client retention built upon the avoidance of bureaucracy and specialized tax software.

In addition to its world-class software, which was built on more than 25 years of LKE program experience, WTP Exchange provides LKE tax consulting services, and Qualified Intermediary (QI) services.

Bramco Inc. is one of the largest construction, mining and industrial equipment sales, rental and service networks in the country. Headquartered in Louisville, KY, Bramco operates throughout Kentucky, Indiana, Tennessee, Northern Mississippi and Eastern Arkansas. Bramco's management understands that the success of our business is built upon maintaining our capabilities and developing a trusting relationship with our customers.

SOURCE WTP Advisors