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PurposeThis blog outlines the tax consequences of a casualty loss, focusing on eligibility, calculations, limitations, and reporting requirements for affected individuals or businesses. Definition of a Casualty LossA casualty loss involves the damage, destruction, or loss of property due to

Proposition XIII is under attack through a proposed amendment to the Constitution of the State of California. The proposed amendment is known as “The California Schools and Local Communities Funding Act of 2018” The proposed amendment would eliminate Prop 13