This informative webinar presented by Ellin & Tucker will explore the advantages and disadvantages of equipment leasing in the construction industry and also provide an update on the Financial Accounting Standards Board’s (FASB’s) proposed rule changes on current leasing standards.
This 75-minute session will cover how leases are currently recorded and what impact they have on a contractor as it relates to bank underwriting, surety underwriting, prequalification criteria with Federal/State/Local municipalities among other users of financial statements. You will learn the benefits of leasing from a tax standpoint in terms of maximizing tax deductions and other tax benefits that may exist under a leasing arrangement.
You will also learn about the proposed changes to lease standards related to Proposed ASU 2013-70, Leases (Topic 842), as well as the potential impact on financial reporting and underwriting and possible tax implications from FASB’s proposed rule change on operating leases.
After this session, you will be able to:
Discuss current advantages and disadvantages of leasing equipment under an operating lease and a capital lease arrangement;
Identify the tax benefits available to the lessee and the lessor under an operating lease and a capital lease arrangement;
Explain how banks, surety firms and other underwriters analyze a contractor’s financial statement under the current lease pronouncements vs. the proposed lease pronouncements; and
Develop other methods to secure equipment for construction projects outside of traditional lease and buy arrangements.