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| FREE NEWS ALERTS A free, comprehensive news service to keep small businesses and independent contractors posted on the latest tax developments affecting their operations.
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Tuesday, Dec. 27 Insurance - Casualty or Theft Losses, #103If you or your business suffers damage or loss from an accident, theft, storm, fire, etc., you may be able to claim a tax deduction. The tax treatment of casualty or theft losses depends on the purpose for which you held the property, among other things. Casualty losses can result from the destruction of or damage to your property from any sudden, unexpected, or unusual event such as a flood, hurricane, tornado, fire, or… Subscribers have free access to the archives. Click here. |
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