Casualty Loss: Don't Let Taxes Be a Disaster Too

With: Randy Lawshe'

Casualty Loss: Don't Let Taxes Be a Disaster Too

Session#: 933-16

Disasters happen, but filing a tax return shouldn't add insult to injury. Learn how to determine the appropriate and legal losses to report. In this session, you will also learn the various types of payments victims receive, and whether or not they should be included in income.
When do you use basis, and when do you use fair market value? How can you reconstruct basis and fair market value after-the-fact? What documentation and evidence will be required in the event a casualty loss is audited? You will learn the answers to these questions and many more during this informative and timely session.

Randy Lawshe'

Randy Lawshé is an Enrolled Agent (EA) who holds a B.A. degree in management and an M.B.A. degree with a concentration in marketing and finance from… more details

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