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The statements made in these blog postings do not qualify as tax advice. These statements are general comments based on general questions. Your specific facts will impact the application of the law to your situation. The basic facts of modern life include the fact...

The statements made in these blog postings do not qualify as tax advice. These statements are general comments based on general questions. Your specific facts will impact the application of the law to your situation. The experience of a disaster property loss requires...

Insurance payouts for a disaster loss are complex. The tax laws covering the disbursement of insurance funds are also complex. However, the intention of the tax laws in these cases is to assist the taxpayer in returning to the position they held prior to the loss. The tax laws are designed to allow the taxpayer to use all the funds to restore their prior lifestyle without the government taking a cut.