The commercial real estate industry is no stranger to big accounting changes – all we have to do is look at how fair value accounting impacted the industry. However the impending update to lease accounting has a potential impact beyond obvious accounting. The best way to prepare for this latest update is to consider the proposed changes for lessees and lessors in today’s lease transactions, anticipating what will follow in the next two to three years.
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IRS releases Notice 2018-99: Interim Guidance to Determine Parking Expenses for Qualified Transportation Fringe
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