Author Bio

Joe Sebik

Director, Tax Reporting of Siemens Financial Services

Joe Sebik is a CPA who has worked in the equipment finance industry since 1980. Currently employed by Siemens Financial Services, he has worked for PwC, IBM Credit, Citicorp Global Equipment Finance, Chase Equipment Leasing and JPMorgan’s Tax-Oriented Investments group. His roles have spanned all aspects of equipment finance, from auditing to financial
reporting to transaction structuring and marketing to tax reporting. He has been on the ELFA’s Accounting Committee for more than 13 years and has been the chairman of the ELFA’s Federal Tax Committee since 2013. He has written extensively about the industry including numerous technical portfolios for Bloomberg/BNA on both lease accounting and the economics of equipment finance.


Posts by Joe Sebik

Investing in Wind and Solar Projects

In the move towards non-carbon-based energy, and the push by Congress to encourage this move to cleaner alternative energy sources, tax incentives have encouraged investments in solar and wind facilities. Financing structures have developed to likewise monetize these tax benefits.... read more

Sales-Leasebacks: The Devil is in the Details

Background of Sale-Leaseback Accounting A sale-leaseback occurs when a company sells an asset to a lessor then and leases it back. The leaseback may be for the entire asset or a portion of it (as in real estate) and for... read more

Is the Service Contract the new Operating Lease?

With the first implementation of ASC 842 fast approaching and lessees recognizing that the off-balance sheet operating lease will be a thing of the past, the leasing industry is now starting to see inquiries regarding whether financing structures can be... read more

How Will Leasing Structures Change as a Result of ASC 842?

Implementation of ASC 842 Leases will begin for larger companies in the fiscal years starting after December 15, 2018 and in fiscal years starting after December 15, 2019 for other companies. The impact of this accounting standard is operating leases... read more

Taking Advantage of Tax Reform: Lease vs. Own Analyses for Sales Reps

This article discusses how to perform lease-versus-own analyses for your customers when navigating the Tax Cuts and Jobs Act (H.R. 1). It will illustrate some of the previously identified opportunities, which may result from the tax reform. I would like... read more

The Effect of Tax Reform: The Good, the Bad and the Unclear

This is the second article analyzing the effect the Tax Cuts and Jobs Act (H.R. 1) will have on the equipment financing industry. It will cover a few identified opportunities and challenges that may result from the tax reform changes.... read more

The Effect of Tax Reform: Major Changes for the Equipment Finance Industry

First let me say “congratulations” to my colleague and Monitor author Bill Bosco on his retirement. It’s been a privilege to know Bill and to work with him for more than 25 years, and I hope that I can fill... read more

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