Nov 11, 2019

Finance Leases, Operating Leases and Hybrids: GAAP and Tax Considerations

Blog_GAAP and tax

Over the past few years, there have been several recent changes in GAAP and tax rules that impact the treatment of leases.  With some of these changes going into effect in 2020, it is an opportune time to review the cumulative effect of these changes. Caveat – The following discussion is intended to survey only tax and accounting aspects of leases, not the rules that would apply to determine ownership and title under state law, remedies, UCC issues, and the like.  Those rules use tests that are often different from the tax and accounting standards and add additional complexity. Finance… Read more