Everyday Tax Tips

Losses or Theft

by Feb 27, 2016Tax Tips0 comments

That personal item you love was lost, stolen or damaged? Got into a vehicle accident and the insurance company didn’t totally cover everything? You may be able to deduct the value of the loss on your tax return. Talk to your tax professional about the benefit you can take for those losses on your tax return. Don’t have a tax professional? Ask Ms. Tax!