Inside Self-Storage

Tax Issues

Taxes Plaque Self-Storage Operators Stateside and Abroad: Sales Tax, VAT, Property Tax

The 2012 tax-filing deadline is just a few weeks away, which is putting money matters at the fore of many Americans' minds. Taxes are also on the minds of U.S. and U.K. self-storage operators as they grapple with potential sales tax, value-added tax (VAT) and excessive ...More
March 23, 2012 By Teri Lanza
Posted in Blog, Finance, Management
U.K. Self-Storage Companies Could Be Forced to Charge Sales Tax

A budget proposal made this week by British Finance Minister George Osborne would eliminate the United Kingdom’s self-storage market exemption from charging customers sales tax. The move could mean thinner profit margins for U.K. self-storage operators and higher prices for ...More
March 22, 2012
Posted in News, Management
CPA Firm PriceKubecka Launches Cost-Segregation Video

Dallas-based CPA firm PriceKubecka has launched a new video to help owners of commercial real estate, including self-storage facilities, apartment complexes, commercial buildings and medical offices, understand the complexities and benefits of a cost-segregation study. ...More
March 21, 2012
Posted in News, Finance
Appealing Self-Storage Property Taxes: Reducing Facility Expenses and Increasing Profit

Self-storage property-tax valuations and expenses have been consistently rising over the years, but few owners have questioned their facility’s appointed value. Now’s the time for self-storage operators to challenge their property-tax valuation, reduce their bill and raise ...More
February 27, 2012
Posted in Articles, Management, Real Estate
Generating Cash Flow Through Cost Segregation: Tax Planning for Self-Storage Owners

Many self-storage owners are becoming increasingly familiar with the powerful cash-flow improvement concept of accelerated depreciation deductions resulting from cost segregation. Recent developments, including 50 percent and 100 percent first-year bonus depreciation, ...More
February 9, 2012
Posted in Articles, Finance
South Dakota Bill Proposes Sales Tax on Self-Storage; New Jersey Weighs 1 Percent Tax Reduction

State legislatures continue to look at the self-storage industry as a source of tax revenue, with South Dakota the latest to propose the imposition of sales tax on unit rentals. Meanwhile, lawmakers in New Jersey have introduced a bill that would the lower sales tax by 1 ...More
February 2, 2012
Posted in News, Legal Issues, Management
Tax Break Helps Self-Storage Operators Buy Kiosks in 2011

INSOMNIAC self-storage kiosks qualify for the IRS Tax Code Section 179 tax deduction, effectively reducing the cost of a kiosk by 35 percent, according to the manufacturer, OpenTech Alliance Inc. ...More
October 10, 2011
Posted in News, Finance, Management, Technology
Self-Storage Operator in TN Upset Over Tax Increases Aims to Dissolve City Government

A self-storage operator in La Vergne, Tenn., irate over steep tax increases is part of group looking to dissolve the local government. ...More
July 1, 2011
Posted in News, Legal Issues, Management
Sales Tax on Self-Storage Introduced in North Carolina Legislature

A potential sales tax on self-storage has once again been introduced to the legislature in North Carolina, and the national and North Carolina Self Storage Associations have jumped to combat the measure. ...More
April 25, 2011
Posted in News, Finance, Legal Issues, Management
Illinois Self-Storage Operators Face New Sales-Tax Bill

Despite past victories over sales-tax legislation, self-storage operators in Illinois face another new bill that would tax their business as a service. ...More
March 2, 2011
Posted in News, Finance, Legal Issues, Management

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