Losing your deduction for fire loss and much more!

Written by Carlos Samaniego

Topics: TAX, Taxes

Thank you to TaxMama for this update.”..One major 2018 issue that really needs to change is the loss of the deduction for casualty and theft losses. For instance, if you have a fire in your home, or if someone steals your identity and wipes out your bank accounts, or you fall for a Ponzi scheme – none of that is deductible any longer.

This is definitely one of those deductions you want to put pressure on Congress to restore. You can reach your legislatures here – http://taxmama.com/special-reports/call-to-action/ .

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