The Car and Truck Fleet and Leasing Management Magazine

Kenworth Dealer Implements Like-Kind Exchange Program

August 22, 2006

KANSAS CITY, MO – Murphy Hoffman Company, a multi-state network of Kenworth dealers providing more than 40,000 customers with a full range of truck-related services, engaged Accruit, LLC of Denver to tailor a Like-Kind Exchange (LKE) service to fit their business needs. Murphy Hoffman’s LKE program has already begun to defer taxes on the sale of their leased fleet. “We wanted to maximize our tax benefit and our available cash flow,” said Timothy Murphy Murphy Hoffman’s president. “Accruit’s implementation process allowed us to begin receiving LKE benefits while our tax advisor and our CFO worked with Accruit on our inclusive LKE program that fit our needs exactly.” Accruit now actively manages more than $2.5 billion in assets through its repetitive LKE services. With more than 90,000 transactions per year and an average sale and purchase value of just $35,000, Accruit provides fully integrated LKE management services to meet the needs of the trucking industry.
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