Like-for-Like Sales

(redirected from Like-Kind Exchanges)

Like-for-Like Sales

The comparison of a company's sales over a given period of time to the sales from a different period of time that resulted from the same or similar activities. For example, if a company has $3 million in sales in 2009 from its flagship store, this is compared to its sales from the same flagship store in 2008 and not to any of its satellite stores. Comparing like-for-like sales ignores the effects of expansion or other changes in activities that could distort comparisons from year to year.
References in periodicals archive ?
Like-Kind Exchanges Limited to Real Property: Under the TCJA, like-kind exchange rules were limited to only allow exchanges of real property.
has announced the expansion of its escrow services with the designation as qualified intermediary for 1031 like-kind exchanges, with industry veteran David Gorenberg to lead product development of the business, the company said.
CDEC is a premier provider ofqQualified intermediary services for taxpayers seeking to structure tax-deferred like-kind exchanges under Internal Revenue Code Section 1031.
  Commercial Like-kind exchanges The final tax law bill retained Section 31 like-kind exchanges for real property including land, buildings and improvements.
"LIKE-KIND EXCHANGES" UNDER SECTION 1031 OF THE INTERNAL REVENUE CODE ALLOW PROPERTY OWNERS TO DEFER TAXES ON GAINS REALIZED FROM THE SALE OF A PROPERTY THAT ARE REINVESTED IN "LIKE-KIND" REAL PROPERTY.
Without his federal tax returns, it's unclear whether Trump has relied on like-kind exchanges. He tends to hold on to properties for longer than most investors while profiting off lucrative licensing deals that plaster his name on the building, a strategy that doesn't clearly lend itself to using like-kind exchanges.
The association co-sponsored The Economic Impact of Repealing or Limiting Section 1031 Like-Kind Exchanges in Real Estate, which was presented on Capitol Hill in Washington, D.C.
Camp has proposed, apart from outright repeal, that the deferral of gain on like-kind exchanges be eliminated.
One tax concept that journal entries can help explain is like-kind exchanges of plant assets under Internal Revenue Code (IRC) section 1031.
1031 provides that no gain or loss is recognized if property used in a trade or business or held for investment is exchanged for like-kind property.(1) The law excludes exchanges of inventory, stocks, bonds, interests in partnerships, and chases in action from nonrecognition treatment.(2) The property that the taxpayer transfers is usually referred to as relinquished property, and the property received is referred to as replacement property Deferred transactions may qualify as like-kind exchanges if they are completed by the earlier of the due date of the tax return for the tax year in which the transfer of the relinquished property occurs or 180 days after such transfer.(3)
A recent court case suggests that corporations have been abusing a tax break, known as like-kind exchanges, in which companies can avoid paying capital gains on an asset sale so long as they use the proceeds only to buy a replacement for the asset, according to a story on the front page of today's New York Times.
This recapture can be a particular hazard for boot gain realized in like-kind exchanges. An additional complication for cost-segregated property in a like-kind exchange is the requirement that components be grouped according to kind or class.