Self-Storage Facility
This owner saved $412,025 in taxes.
A CSSI® representative met a self-storage facility owner at an industry conference. The client’s facility generated over $300,000 in revenue annually and was depreciated using the straight-line method. With accelerated depreciation, the client received a tax savings benefit of over $400,000 in the first year. The client used the savings to purchase several small residential rentals and has had cost segregation studies performed on them.
Date Aquired:
February 2019
February 2019
Purchase Price(less land):
$4,052,325
$4,052,325
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