Fleet Solutions - "Like-Kind" Exchange

"DUECO’s main focus is quality and customer satisfaction. The pride behind the engineering and craftsmanship exceeds that of any manufacturing company out there." Terry Zwadich, Materials

"By increasing our cash flow, you have allowed us to grow. Our company is no longer just a one truck operation!"

"Our engineering department is committed to excellence in supplying our internal customer with high quality build instructions that result in high quality products being delivered to our customers."

In addition to other financial services, many companies are taking advantage of DUECO’s “Like-Kind” Exchange program. This program helps companies to replace existing fleet assets that qualify for a commonly used tax-deferred Forward Delayed Exchange Program.

In a typical Delayed Exchange, a taxpayer sells productive use property and acquires replacement property of equal or greater value within 180 days. The “like-kind” requirement for this type of tax-deferred transaction must be either the same General Asset Class or Product Class of the property being replaced.

Internal Revenue Code Section 1031 is a powerful tool for deferring capital gains tax on these transactions. This section allows taxpayers to exchange real or personal property for new “like-kind” property, while deferring recognition of any capital gains.

There are several steps involved in a 1031 tax deferred exchange of productive use assets and we recommend that you consult with your tax advisor to insure that it is appropriate for you to employ.

At DUECO, we are interested in assisting our clients to identify and study the most appropriate acquisition and disposition solutions and the strategies that best meet the financial performance requirements our clients operate under.

We would welcome the opportunity to discuss the details of this program and how it might be of value to you. The above program may also have the residual effect of minimizing local sales taxes and lease payments.