Company Needs Funds to Acquire a New Building

Solution – A former client of ours contacted us as he was planning to move to a new facility and needed help to raise money to purchase the new building. He was planning to sell the existing facility which was too small and not configured properly for the expansion of the business.
We analyzed the situation and recommended he explore the possibility of acquiring the new property under a Like Kind Exchange. It proved to be feasible and ultimately saved our client approximately $200,000 of taxes that would have been payable upon the sale of the existing facility. These funds were able to be deployed instead toward the purchase price of the new building.
While we are not CPAs or attorneys, we have experience covering hundreds of transactions over many years, and can often suggest alternatives for our clients that they or their advisors may not have considered.