It’s that time of year again. As the old saying goes, “in this world, nothing is certain, except death and taxes.” We can’t help you stave off death, but can you write off a storage unit on taxes? Under most personal circumstances, probably not; however, if you are using your storage unit for work-related purposes, then maybe! Here’s the answer to the question “are storage costs tax-deductible?” To be eligible for deductions, you must store items under these conditions:
Reason #1: Your Storage is Business-Related
Reason #2: Your Storage is for a Work-Related Move
So, Can You Write Off a Storage Unit on Taxes?
So, are storage costs tax deductible? The answer is maybe! As long as you have a business need for your unit. If you need business storage in California and have questions, call StorAmerica today. You can also chat with one of our friendly managers online right now if you like! Writing off your storage rental as a business expense can pay for itself in the long run. For more information, visit the IRS website or consult with your tax professional.
*Please see below for StorAmerica’s disclaimer.
Guardian Storage Centers, LLC, StorAmerica, their parent companies, affiliates, and subsidiaries, do not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only and is not intended to provide and should not be relied on for tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.
This post was originally published on February 11, 2018
It was updated on October 27, 2020.