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Hello everyone, are we having fun yet?
Only six more days to go!!!
So, I have an existing client who came to me several years ago with a Sch C for his storage Unit business and a Sch E for commercial rentals. He has since sold off all of his commercial rentals, and last year, I filed a Sch C for his storage units. I've always considered him active but now that I am working on his return now, I'm wondering if I should rethink that. He does plenty of book-keeping for the business as there are 60 units, as well as snowplowing and maintenance, but doesn't keep track of how many hours he spends on the business. He is also not interested in depreciation. Any thoughts as to how other preparers for storage unit business owners handle this decision would be greatly appreciated.
Thank you,
Dawn
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