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?
In addition to being the best tax advisor I have had the pleasure of working with, Jerry is first and foremost a wonderful person. Building my first storage facility and being a rookie to the industry, I was nervous on what I could expect in my first year of development. With all of the ups and downs of this first year all I can say is I had absolutely no worries when it came to the the most important part of our business - the numbers. Jerry Jones took the time to answer every question or concern we had when going though this process. If you are in the storage business give yourself a leg up and apply Jerry’s experience and expertise of this expanding and ever changing industry. You will be thankful you did.
Bill Pederson
Lock it and Leave it storage

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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