LEASEACCOUNTANTS.COM
The Trusted Resource for Leasing
Leaseaccountants.com is a division of The TABS Group Accountancy Corp. (TTG). TABS stands for Tax, Accounting and Business Solutions and, as the name implies, is a CPA firm designed to meet the needs of businesses.
TTG has assembled a team of experienced and dedicated professionals who have been serving the vehicle and equipment leasing industries for over 25 years and is very excited to launch this website, which describes our long history and commitment to the leasing industry.
When it comes to tax and accounting issues, leasing truly is a unique industry. There is nothing worse than being turned down for funding because the financial statements were improperly prepared or paying taxes which were caused by not understanding how a leasing operation works and how complex federal and state tax laws are applied to it.
Paul Doyle, CPA is the principal responsible for the leaseaccountants team. He is nationally recognized in the industry and knows how to properly apply both the accounting rules and tax law to create the best of both worlds, a financial statement profit and tax loss. The nature of leasing and current tax law provides leasing with various rules and elections that provide benefits not available to other industries. When these elections are properly utilized and managed, the lessor can reinvest profits on a pre-tax basis for years and even decades, providing tremendous growth opportunities not available to other industries. In some cases, a leasing company can even shelter some or all of the income of another entity for a significant period of time.
Paul’s clients are spread throughout the country and he spends 100% of his time assisting clients with:
- Applying the complex accounting rules to maximize financial statement presentation and results (audits, reviews and compilations)
- Explaining client statements to lenders to retain or get new lines of credit
- Utilizing tax elections to minimize or eliminate federal and state taxes (preparing returns for all states that require tax returns)
- Income tax consultation re: choosing the best type of entity
- Consultation re: evaluations, acquisitions/mergers and succession planning
- Cash flow, financial statement and tax projections
- Expert witness testimony
- Providing lease accounting and tax education
Leaseaccountants.com serves all facets of the vehicle and equipment leasing industries, except for publicly held companies. Our clients range from small start up operations with fewer than 100 units to mature companies with well over 10,000 units. These clients include many who do business in every state, and those that specialize in market segments such as sub-prime, full maintenance, and used trucks, etc. They utilize all of the financing programs available including brokering, full recourse, warehouse, discounting and securitizations. We have successfully helped several clients with exit strategies including transferring the company to the second generation, with minimal tax implications.
Leaseaccountants.com provides free seminars to lenders to help explain the complex accounting rules so that it will be easier for clients to obtain financing, the life blood of the leasing industry. We have also developed relationships with other industry professionals to provide an umbrella network to help you deal with most of the day-to-day issues. Wherever you’re located and whatever your tax, accounting and other needs are, the experienced and dedicated professionals at leaseaccountants.com are ready, willing and able to help.
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