In Brief The 2018 hurricane season has already brought two devastating storms, with Hurricane Florence causing major flooding in the Carolinas and Hurricane Michael causing…
Individual and business taxpayers may experience financial losses resulting from sudden damage or destruction to their property. Physical loss due to fire, windstorms, hurricanes, and…
Understanding the IRS’s Seven New Casualty Loss Safe Harbors
Disaster Recovery after the Tax Cuts and Jobs Act
In Brief Losses from natural disasters are generally tax deductible, but taking the deduction requires properly valuing the amount of the loss. The IRS recently…
The United States has faced several weather emergencies in 2017, with Hurricanes Harvey and Irma dominating the news cycle in August and September. While life-threatening…
At the request of the editors of the CPA Journal, insurance expert, Barry Zalma updated his blog for the benefit of our readers. In 2008, he…