Mar 14, 2018 | Firm Updates, Individual Tax, Tax Tips
If you suffered damage to your home or personal property last year, you may be able to deduct these casualty losses on your 2017 federal income tax return. For 2018 through 2025, however, the Tax Cuts and Jobs Act suspends this deduction except for losses due to an...
Mar 22, 2016 | Uncategorized
If you suffer damage to your home or personal property, you may be able to deduct these “casualty” losses on your federal income tax return. A casualty is a sudden, unexpected or unusual event, such as a natural disaster (hurricane, tornado, flood, earthquake, etc.),...