2018 – The Burns Firm – Advisors of Complex Financial Matters

Casualty Losses Can Provide a 2017 Deduction, but Rules Tighten for 2018

March 15th, 2018|Categories: Accounting, Burns Firm, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, TCJA|Tags: 2018, Accounting, Assets, Casualty loss, deductions, expense, IRS, Loss, tax, tax preparation, tax return, TCJA, The Burns Firm|

If you suffered damage to your home or personal property last year, you may be able to deduct these “casualty” losses on your 2017 federal income tax return. For 2018 [...]