02 Apr Stimulus Check – Questions Answered
Stimulus Check - Questions Answered...
Disaster Loss
27 Apr Disaster Losses Including Casualty and Theft IRS Publication 547 – IRS Form 4684
If you take one look at FEMA’s website, it’s clear that we are going to see a significant increase in the number of casualty losses going forward. Should you find yourself a victim of a disaster or a casualty or theft loss it is hugely important that you understand...
03 Aug IRS and Federally Declared Disaster Areas
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in Disaster Loss, Tax Credit, Tax Deductible Expenses, Tax Guidance & Preparation, Tax Problems & Requests
People living in a federally declared disaster area are entitled to a wide variety of tax benefits. Around the Nation provides IRS news specific to local areas, primarily disaster relief or tax provisions that affect certain states. 2012 federally declared disaster areas issued by the department of Homeland...
20 Jul Casualty, Disaster and Theft Loss Deduction
Losses incurred because of a casualty, disaster, or theft may be tax-deductible. Casualty and theft losses are reported on Form 4684 and Form 1040 Schedule A. Casualty Loss A casualty is the loss of property (including damage and destruction) because of a sudden event. The event must...
20 Jul Determining the Amout of Disaster Loss to Claim for a Business Asset
Start with the cost basis of each asset along with a fair market value (FMV) of each asset both before and after the disaster. Be prepared to substantiate. The next piece of data needed is the amount of reimbursement you will receive from your insurer. ...