Tax and Accounting Implications
Your choice of leasing products is directly related to the tax and accounting implications for your business. There is often confusion over whether the lease is being considered from the accountant or IRS's perspective. It's important to note that in any business there are two sets of books -- tax and accounting. The IRS and the Federal Accounting Standards Board (FASB) have separate methods for classifying and reporting leases. Businesses may choose different lease types to achieve different objectives.
Interested in making the right financing decision, contact ST Capital today.
*Please consult your tax advisor regarding any tax or accounting questions
