Fleet Advantage President & CFO Brian Holland Addresses Asset Acquisition Strategies At ELFA’s 57th Annual Convention
Presentation Shows How Tax & Accounting Changes Encourage More Leasing for Transportation Equipment
PHOENIX (October 15, 2018) – Fleet Advantage, a leading innovator in truck fleet business analytics, equipment financing, and lifecycle cost management today announced that President & Chief Financial Officer, Brian Holland, is presenting at this year’s Equipment Leasing and Finance Association’s (ELFA) 57th Annual Convention in Phoenix. Holland is addressing the Tax Reform and FASB accounting changes, and how they affect equipment acquisition strategies in the panel session titled: Tax Reform Implications for 2019 and Beyond. The session takes place on Tuesday October 16, 2018 at 3:00 P.M.
Positive trends in the U.S. economy and recent U.S. business tax reforms—in particular, a 21% corporate tax rate and immediate expensing for equipment—are expected to trigger greater investments in various types of equipment. In addition, recent changes made to the FASB and IASB accounting standards may impact a company's bottom line and decisions about equipment acquisition. This session will examine how the Tax Cuts and Jobs Act and new lease accounting standards may affect the lease versus buy decisions, and how certain equipment lease structures may impact overall financial performance. This session will also focus on tax reform implementation, including the status and outlook for regulatory guidance, as well as legislation making technical corrections and more substantive changes to the Tax Cuts and Jobs Act.
According to Holland, “The tax and accounting changes create economic and practical advantages in leasing compared to a loan. As a result of the Tax Reform, it is expected that many companies will prefer leasing to borrowing simply as a consequence of the limit on interest deductions; hence an increase in leasing activity.”
In addition, this session will explore political, economic, budgetary, and other factors that may influence and shape future tax law changes affecting the industry. This discussion is important for the equipment leasing and finance industry to assist companies in understanding the Tax Reform and Accounting Changes implications and to aid them in developing plans to adapt and prepare for the future.
About Fleet Advantage
Fleet Advantage serves America’s top truck fleets and guarantees the absolute lowest cost of operation by providing truck leasing and matching proprietary data driven IT processes with fleet analytics using the latest eco-efficient clean diesel technology to achieve optimum vehicle productivity, while reducing operating costs. Fleet Advantage is ranked as one of the fastest-growing privately held companies in the state of Florida and the fastest growing independent truck lessor in the U.S. In 2018, Fleet Advantage was ranked the 9th Top Private Independent from Monitor Daily; and in 2015 and 2013, the company was named to Inc. magazines’ 500|5000 list of fastest growing companies in the nation. In 2011, CEO John Flynn received the Ernst & Young Entrepreneur of the Year® 2011 Florida - Emerging Category award.