Taxes and Your Rental Business-Taxes and your rental business

Video Transcription

Video Summary

In this webinar, PWC and AccruIt discuss the tax implications of rental businesses. They cover topics such as the growth in rental fleets, depreciation and gains, like-kind exchange, dual-use property, and the new leasing standards. They also mention that record-keeping and supporting the business activity of rented equipment is important for sustaining tax benefits. Additionally, they touch on the new lease accounting standard, which will require all leases to be shown on the balance sheet. However, short-term rental contracts will not be treated as leases under the new rules. The webinar concludes with a reminder to reach out to the presenters for further information or questions.

Keywords

webinar

tax implications

rental businesses

rental fleets

depreciation

like-kind exchange

dual-use property

leasing standards

record-keeping

tax benefits