I've been keeping my rig in the garage since I started (12 ft Trailer) because I live in a subdivision where we can't leave them out. I would like to get my garage back and move my rig.
Does anyone here keep their rig and chems in a U Store It Rental? If so what are the Pros and Cons? There is one less that 2 miles from my house that I can use.
I use one for our storage. The benefit for me is Mileage Deductions for taxes. If you take mileage as opposed to Truck maint. and expenses this can be a huge deduction for you if you drive allot of miles. The IRS will allow a mileage deduction. If you have your own business you can deduct the amount of business miles x the IRS allotted $$$ per mile. The catch is it is NOT all miles. Your trip from your home to the FIRST job of the day is considered Commute miles and is NOT deductible. The mileage you drive for the rest of the day up to the last job is deductible. Your drive from the last job back home is considered commute miles and is NOT deductible. I have my equipment in storage 1.5 miles from home. The 3 miles I drive each day to and from the Storage facility is commute miles and NOT deductible, The rest of my driving is deductible. If you look at your own situation, it may be a great advantage to rent a unit and work from there. I had over $30,000 mileage deduction for mileage alone for 2009. Please consult your Accountant for your own situation.
I park my enclosed trailer in a gated lot with video cameras,that cost $50 a month. I rent a storage room there as well just during the season and thats $130 a month,it's great to store Chems and I can just load up while im hooking up the trailer. So now the trailers sits until april first at a cost of $200.00 for four months. It beats sitting in my driveway getting neighbors angry.
I have rented a few storage units a little while back and they ask clearly if there is any hazardous or flammable contents or food stuff as well( bbq tank had to be empty), I guess the question is if there was a full 55 gal drum in a unit and the building caught fire would it cause an explosion?, and the FD would not know what is in there, could be a huge liability to your company. Minor scenario if a leak developed in the barrel and ran under the walls would your insurance cover damaging your neighboring units contents. The issue of terrorism and storage of large barrels of stuff could raise an eye by someone in there. They just blew up a house that was full of barrels of explosive stuff by some scumbag. That would really suck, being raided by the feds.. sorry for dulling the day :( Kim R
I use one for our storage. The benefit for me is Mileage Deductions for taxes. If you take mileage as opposed to Truck maint. and expenses this can be a huge deduction for you if you drive allot of miles. The IRS will allow a mileage deduction. If you have your own business you can deduct the amount of business miles x the IRS allotted $$$ per mile. The catch is it is NOT all miles. Your trip from your home to the FIRST job of the day is considered Commute miles and is NOT deductible. The mileage you drive for the rest of the day up to the last job is deductible. Your drive from the last job back home is considered commute miles and is NOT deductible. I have my equipment in storage 1.5 miles from home. The 3 miles I drive each day to and from the Storage facility is commute miles and NOT deductible, The rest of my driving is deductible. If you look at your own situation, it may be a great advantage to rent a unit and work from there. I had over $30,000 mileage deduction for mileage alone for 2009. Please consult your Accountant for your own situation.
The rent is also deductible
Chris
Good info here, Chris!
I am going to price some storage around here, too. We live in a townhouse and my trailer takes up just about the entire garage.
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I would think it deals with preference, I have a 15 ft wide, 44 ft deep storage, plus 20 plus high ceiling with heated floors and electrical hook ups. It is nice to put the truck in and do work if needed since I only have a single car garage at home. It is only 2 miles from my house so not a long haul when I need to work on something, I pay 330.00 a month for it though so I would think you would want to look at the money, distance and your time going between the your home and storage.