- Are Your Important Tax Documents Safe in Case of a Disaster?
- You may think a natural or man-made disaster will never happen to you, but it can be a nightmare when it does. The 2017 hurricane season is a good example, not to mention the wildfires in the West, the tornados in the Midwest, plus the potential for inevitable earthquakes.
- Hurricane Disaster Loss Tax Ramifications
- With the historic flooding and damage caused by recent hurricanes, President Trump has declared the affected areas disaster areas. If you were an unlucky victim and suffered a loss as a result of these disasters, you may be able to recoup a portion of that loss through a tax deduction. When you suffer a casualty loss within a federally declared disaster, you can elect to claim the loss in one of two years: the tax year in which the loss occurred or the immediately preceding year.
- Natural Disaster Charity Volunteer Tax Breaks
- If you volunteered your time for a charity in the aftermath of a natural disaster, you probably qualify for some tax breaks. Although no tax deduction is allowed for the value of services performed for a qualified charity or federal, state or local governmental agency, some deductions are permitted for out-of-pocket costs incurred while performing the services. The following are some examples:
- How to use your paycheck to donate to Hurricane Harvey and Irma Charities.
- Employees can donate their unused paid vacation, sick leave, and personal leave time to Hurricane Harvey and Irma relief efforts.
- The Equifax Data Breach, IRS and Your Identity Security
- In the tax industry, we have been working to combat the threat of hackers for many years. When a security breach of the scope of the recent Equifax cyber security incident takes place, many clients are affected and concerned about how this may affect their financial lives.
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