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Tax Break Helps Self-Storage Operators Buy Kiosks in 2011
Posted 10/11/2011
Link www.insideselfstorage.com/news/2011/10/irs-helps-selfstorage-operators-buy-kiosks-in-2011.aspx
 
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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. Section 179 allows businesses to deduct the full purchase price of qualifying equipment or software purchased or financed during the current tax year.

"Section 179 is a great deal for self-storage operators considering a self-service kiosk, but they have to order their kiosk soon,” said OpenTech President Robert Chiti. “To qualify for the deduction in 2011, the kiosk must be in operation by the end of the year." More information can be found at www.section179.org.

OpenTech provided the following example of tax savings that can be enjoyed in relation to its INSOMNIAC 770 kiosk, which costs $15,500. The calculator presents a potential tax scenario based on typical assumptions that may not apply to every self-storage business. The indicated tax treatment applies only to transactions deemed to reflect a purchase of the equipment or a capitalized lease purchase transaction. OpenTech advises that interested parties consult their tax advisor to determine the tax ramifications of acquiring equipment or software for their business.

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