Tax Issues | Inside Self-Storage

10 Frequently Asked Questions About Cost Segregation for Self-Storage Properties

Sep 12, 2018

As a property-depreciation strategy, cost segregation can make a lot of sense. Check out the answers to these 10 common questions to see how this real estate tax-reporting approach applies to self-storage.

Self-Storage Owners and Property Taxes: You Have More Power Than You Think

Aug 31, 2018

Though it may seem daunting to fight the property-tax assessment you receive for your self-storage facility, contesting the tax and winning a break is easier than you think. Here are some strategies to make it happen.

Changes in Business-License Fee Structure to Affect Self-Storage in Tuscaloosa, AL

Jul 17, 2018

To supplement shortfalls in sales-tax revenue, officials in Tuscaloosa, Ala., are considering a change to the city’s business-license fee structure in five categories including telecommunications, carnivals, check-cashing and title loans, self...

Marshalltown, IA, Officials Debate Use of TIF to Aid Self-Storage Expansion

Jun 21, 2018

Marshalltown, Iowa, officials are considering an expansion of the town’s Urban Renewal Plan (URP) for Area No. 3 to make way for a proposed self-storage expansion. The move is opposed by some local businesses as well as Marshall County officials...

Storage of America Moves Headquarters, Receives Tax Abatement in Anderson, IN

Jun 13, 2018

Update 6/12/18 – SOA has opened its new regional headquarters in Anderson as well as another newly built property in the city. The company held grand-opening celebrations for both facilities earlier this month, according to a press release...

Prime Group Withdraws Self-Storage Tax-Break Application in Saratoga County, NY

Apr 14, 2018

Update 4/13/18 – A Saratoga County IDA public hearing scheduled for Monday was canceled after Prime notified the IDA it was temporarily withdrawing its application seeking more than $460,0000 in tax breaks on its self-storage project on Route 50...

The Tax Cuts and Jobs Act of 2017: How Will Self-Storage Owners Be Affected?

Mar 08, 2018

President Donald Trump recently signed a tax-reform bill into law that provides the most significant U.S. tax changes since the Tax Reform Act of 1989. While self-storage owners will continue to enjoy many of their previous tax-relief advantages...

Florida Self-Storage Operators Prepare for Change in Rental Sales Tax

Dec 05, 2017

Self-storage operators in Florida are preparing for a change in sales tax to be applied to unit rentals starting next month. An amendment to the state’s real estate sales-tax law, passed in May, will drop the sales tax on commercial rent by .2...

Generating Cash Flow Through Cost Segregation: Tax Planning for Self-Storage Owners

Nov 28, 2017

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...

The Affordable Care Acts Employer Shared Responsibility Penalty and How It May Affect Self-Storage Owners

Nov 28, 2017

With the Affordable Care Acts healthcare insurance mandates on the horizon, theres a lot of confusion about how self-storage operators will be affected. This article examines the definition of a large employer as well as the penalties employers...