Jerry Jones CPA
Wouldn’t it be nice to have a CPA that you deal directly with, that knows the Self Storage business, that works in all 50 states and is there for you when you need him?
I own 3 storage properties (2 in one state and the other in another state over 100 miles away)and work a full-time job about 100 miles in another direction; with all my travelling I sometimes feel like I get behind the 8-ball. That is where I was on my taxes when I contacted Jerry to prepare them. It is not a good practice to be at the last minute and needing to have your taxes prepared, but Jerry met the deadline with exceptional professionalism. I am located approximately 2,500 miles across the country from Jerry but that has been no hindrance in receiving timely exceptional customer service from him. In discussions with Jerry, he has had made suggestions that has helped me improve my operations. His knowledge of the self-storage industry incorporated into your accounting and tax-planning of your operations will prove to be invaluable. I believe he will provide you with the highest level of accounting service and tax planning and preparation for being an owner in the self-storage industry.
Donnie Christian
Bristol, Tennessee and Virginia

Cell Towers On Site

Growing Profits By Leasing To Cell Carriers

By Elizabeth Ferrin

Years ago, Ray McRae, vice president of Storage Solutions answered a phone call that would change the face of his company's holdings, ultimately adding income and increasing the value of his properties. This single conversation marked the beginning of the self-storage professional's successful relationship with the wireless industry and ultimately led to the development of a cell tower at one of his self-storage facilities. Today, his company's portfolio includes self-storage properties that play host to a total of 11 cell sites.

Like McRae, many self-storage owners and operators are open-and even eager-to increasing their monthly cash flow by allowing a cell tower or monopole at their site. However, very few owners ultimately end up signing lease agreement with a carrier. "The average landowner is likely not a candidate for a cell site." says Ken Schmidt, president of Steel in the Air, Inc., a company with assists landowners with the negotiation of leases. "There are more that 2 million parcels in the U.S. of which less than 175,000 have towers. That means there is less than a one percent chance that your site will be chose."

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New Capitalization Rules: Opportunities and Traps

(Parker's Federal Tax Bulletin: November 26, 2012)

On November 7, at the AICPA Federal Tax Conference in Washington, D.C., two members of the AICPA Tangible Property Task Force reviewed the temporary regulations on capitalization issued at the end of 2011. David Strong, Director at Crowe Horwath LLP, and Natalie Tucker of the Washington D.C. National Tax Office of McGladrey LLP, emphasized certain year-end strategies practitioners must consider in dealing with the new capitalization rules, as well as opportunities for mitigating some of its more onerous provisions.

On December 27, 2011, the IRS issued temporary regulations (T.D. 9564) aimed at assisting taxpayers in determining whether amounts paid to acquire, produce, or improve tangible property must be capitalized. The temporary regulations are generally effective for amounts paid after 2011. The regulations clarify and expand prior proposed regulations, which had been issued in 2008.

Taxpayers Have Two Years for Automatic Consent Method Changes to Comply with the New Rules

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