March 2018 Newsletter

"It has never been a matter of whether or not you could do it yourself. We just figure it isn't a bad thing to offer help."

There is something emotionally satisfying about the scrub of a pencil on paper, the thrill when numbers match, the security of metal file drawers and Manila folders. Unfortunately, you and I both know most time spent reconciling accounts is more frustrating than it is fulfilling. No matter how carefully the accounts have been kept, there is always something that requires time—even hours—to fix.

Then comes the taxes and the laws associated with running a business: state laws, IRS regulations, the Corporate Veil, business expenditures, insurance, etc. All of it functions as a time vacuum, even if you are a competent accountant. 

Now is the part where I mention our accounting team, and you hesitate because you can do it yourself, or it seems too expensive, or you fear it will disconnect you from your business. Allow me to relieve some of your concerns.

To become licensed CPA's (Certified Public Accountants), our accountants had to acquire a bachelor's degree, pass the CPA exam, pass the AICPA exam (with a score above 90%), pass the Utah Laws & Rules exam, and have 2,000 hours of experience. Now as licensed accountants, they must complete 80 hrs of CPE (education) every 2 years to maintain their licensure.

Additionally, public accountants typically service multiple industries. However, our accounting team specializes in just storage laws, finances, and regulations.

What if your facility is really small, less than 50 units, even? How can you justify the cost of an accounting team? 

First, you aren't hiring a full time accountant (which would cost you about $800 a week). Instead, you are paying a monthly sum for services you elect, regardless of the hours of work it might require from our accountants.

Second, the money you save in deductibles will probably be as much as the total accounting fee you pay for a year. Our department head explains, "We bring on clients regularly and see prior year tax returns that are missing huge tax deductions, including money spent on advertising, supplies, interest, professional services, traveling expenses, and other deductions such as depreciation."

Just Regular Guys
Our accountants are willing to give a free consultation, and in saying that, please don't imagine they are avaricious people sitting next to their phones just waiting for some unfortunate person to call and be snagged in their web.

Our accountants are regular dads, neighbors, and coworkers who work hard during the day, eat normal food at lunch, and occasionally celebrate when a thrown wad of paper makes it into the trash can. They are excited when people call and are willing to brainstorm with them about finances and business.

No Regrets
Information is the key. It can't hurt to send us a call or email, even just to see what services might help you.

        For More Information:
Ty Meinhardt (Dept. Head)
Our Accounting Team
Other Storage News
See additional articles from the ISS (Inside Self-Storage) community:

Additional Services

We have spent a lot of time and money on services we believe can benefit your storage facility, including:
  • Bookkeeping and Accounting It's Tax Season! Ask for Help!
  • Call Answering and Management Service
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