Deducting Your Casualty Losses at Tax Time: Don’t Mistake the IRS for an Insurance Provider

Deducting Your Casualty

By Rosalyn Binday  Did you have a loss last year due to weather, theft or an accident? Are you planning to deduct that loss when you file your Federal Income Tax return? Well, it might not be so easy.  In fact, the IRS sets a pretty high bar for a tax deduction due to a casualty loss.  It’s a good...

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By: Advocate Brokerage

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