Vehicle and Equipment Leasing Companiesck Dealerships

Leadership in Vehicle and Equipment Leasing

The business of leasing vehicles and equipment presents a variety of unique operational concerns. Not being aware of — or failing to take advantage of — the many tax and accounting benefits available can easily prevent your leasing company from being competitive and achieving its fullest potential. For over 65 years, leasing businesses have relied on MichaelSilver’s broad industry expertise. We serve clients ranging in size from locally-owned entities to multi-national organizations. The range of services we provide to help your leasing business improve and maintain its competitive financial edge include:

Tax Consulting and Compliance

Several tax rules and elections exist that are beneficial to leasing businesses. Beside the federal tax laws, each state has its own set of unique rules. MichaelSilver’s leasing expertise allows us to choose those tax rules that provide the best benefit to your particular situation. Depending on the facts and circumstances, each asset may be depreciated using a variety of methods. By “managing” depreciation expense, we can develop a strategy that defers the payment of income taxes by financially profitable leasing businesses. The additional cash flow allows for faster growth of your business and greater financial flexibility. As leasing specialists, we stay current with the ever-changing tax environment. We can also prepare all of the required federal, state and municipal tax filings. Our tax consulting and compliance services include:

  • Federal, state and municipal income, and sales tax compliance, including complex state unitary income tax filings
  • Choosing the most beneficial accelerated depreciation methods for your specific situation
  • Preventing or minimizing the payment of the alternative minimum tax
  • Representation at federal, state and municipal income, sales, and other tax audits
  • Negotiating tax settlements
  • Guidance for choosing the best entity structure
  • Continual long-term tax planning for the leasing business and the owners and their families
  • Income tax projections for year-end planning

Financial Accounting and Audit

Obtaining competitive financing is a constant struggle. Financing costs that are greater than your competitors puts your business at a significant disadvantage. Incorrectly prepared financial statements will make it more difficult to obtain financing, especially at competitive rates. The team at MichaelSilver has years of experience in preparing financial statements that can help optimize the opportunity for competitive rate financing. We work with your accounting team to ensure that manufacturer incentives, deferred taxes and other accounting matters unique to leasing are recorded properly in your financial records. Our financial accounting and audit services include:

  • Audits of financial records
  • Reviews of financial records
  • Compilations
  • Cash flow projections
  • Meetings with lenders
  • Other non-financial statement engagements, such as special testing, forensic analysis, etc.

Unique Value-Added Services

Additional services we provide designed to enhance your leasing business include:

  • Review of lease agreements
  • Assistance with negotiation and analysis for business acquisitions, sales and mergers
  • Business valuations
  • Succession planning
  • Review and analysis of internal controls
  • Employee benefit plans (retirement, medical, etc.)
  • Estates, gifts and trusts planning for individual owners and/or family businesses

Vehicle and Equipment Leasing Companies Expert Team

Joe Roznai, CPA, CGMA — Partner

Mark D. DeVience, CPA — Partner

Phil Kent, CPA — Partner


To learn more, please contact MichaelSilver’s Vehicle and Equipment Leasing Industry leader, Phil Kent, CPA, Partner, at 847-982-0333 or contact us.

Expert Review

Let us demonstrate the added value we can deliver. 

Our leasing experts will review and analyze your most recent income tax returns, internally-prepared reports, and externally-prepared financial statements. This review and analysis is provided without cost or obligation, is completely confidential, and will provide details, in writing, of our findings and suggestions.

Our review and analysis focuses on the tax and financial matters unique to vehicle and equipment lessors, such as depreciation opportunities, treatment of manufacturer incentives, quality of financial statement presentations, and benchmark calculations for lessors. Our report will address all of these concerns and provide guidance for future action.