Casualty and Theft Losses

Deductions for the loss of personal property from things such as fires, floods, or theft have been partially eliminated. This deduction can now only be utilized if loss was caused by a federally-declared disaster. A federally-declared disaster is any disaster that is subsequently determined by the president of the United States to warrant assistance by the federal government! Check with J.Robins CPA to see of your loss qualifies!

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