PwC has a dedicated Like Kind Exchange tax practice that has implemented over 50 LKE programs over the past eleven years.
Like Kind Exchange is a tax strategy. Sustaining tax benefits ultimately rest on meeting ALL tax requirements for daily business activities and staying current on tax developments.
- The PwC system has been developed and enhanced over the last five years and represents the best practices of our 50 implementations. We have grown our practice every year and invest significant amounts in our technology and our staff.
- Our application is highly scalable. We process more than 30 million transactions per month for our clients.
- The PwC LKE practice consists of more than 45 dedicated tax and technology professionals.
PwC manages the implementation of both the tax and technology aspects of implementing an LKE program.
- As a Big Four firm, PwC has the necessary resources to keep the LKE system current with evolving tax developments. As part of our service offering, we notify clients of emerging and enacted tax positions that can impact their LKE programs.
- PwC provides system updates and functionality as part of our maintenance agreement with our clients. If a tax law change occurs, our clients receive the updated tax law changes -- including extensive testing by PwC tax professionals -- at no additional development charge.
- PwC will issue a tax opinion for the LKE program regarding its compliance with current tax rules and IRS guidance and can provide assistance in the event of an audit by taxing authorities. QI's generally will not provide tax advice.
Our experience and our investment in our technology allows us to be more efficient in the implementation of an LKE program
- Trained tax and technology implementation resources will be on site to oversee program implementation in a manner consistent with your business needs and in compliance with tax safe harbors.
- Having a single vendor eliminates finger pointing among multiple service providers
- Our ASP approach to delivering LKE avoids the "It's a hardware problem, no it's a software problem" issue when installing in house. The ASP approach also allows PwC to significantly enhance our support capabilities.
- Our implementation approach is based on best practices and extensive knowledge of client processes.
- We will work with you or your outside accountant so that the original system configuration agrees to prior year tax positions and elections.
- Many implementations are completed in 12 to 16 weeks.
- PwC is able to deliver an automated and paperless LKE solution in a time efficient and cost effective manner.
"We conducted an
extensive RFP process and spent considerable time with several potential
providers and consulted their references. Ultimately, the outstanding tax
technical expertise in LKE and extensive practical experience with large
automotive fleet LKE programs were the deciding factors in selecting PwC. This
was a significant undertaking for us and it was important to have someone with
extensive, real-world experience. They brought a real "can-do" attitude and
offered practical solutions to implementing LKE in our business."
- Jim Ryan, Dollar Thrifty Automotive Group, Inc.