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...
Your vehicle was hit by hail and the insurance company agreed to compensate you $4,600 AND allow you to keep the vehicle AND not issue you a salvage title. In most situations this is non reportable. However not always. This may be reportable on IRS...
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...
