Storms: Damage To Your Trees
(Muhammad Abbas Khan, Dir Upper)
This past year has been one for
the record books - freak snowstorms, tornadoes, hurricanes. If you lost a tree
due to wind or snow damage, consider that you may be entitled to a federal tax
deduction.
If you suffered damage to trees or landscaping from any type of casualty, first
consult your homeowner’s insurance policy. If you aren't covered, then consider
consulting your tax advisor and asking whether a tax deduction for your tree
casualty loss may be an option for you.
Casualty losses occur when sudden, unexpected and unusual events damage your
trees. There are many factors that affect this claim and many steps that you
must take: You must be able to document what the tree looked like prior to the
damage; the nature of the casualty; that there was a decrease in fair market
value; etc.
For more information about a federal tax deduction, please utilize our resources
below and consult with your tax advisor for his/her professional opinion. To
find a professional tree care company in your area that can help you assess the
damage to your tree