Casualty loss deduction: How to claim a tax break if disaster strikes
When disaster strikes, taxes may be the last thing on your mind. But the casualty loss deduction can offer much-needed financial relief.
5 min read
Sep 07, 2025
Amy Hoak
EXPERTISE
- Personal finance
- Taxes
- Real estate
- Investing
Amy Hoak is Bankrate contributor and a freelance writer in the Chicago area. Her work has appeared in a variety of online publications, magazines, newspapers and wire services, including MarketWatch, The Wall Street Journal, Reuters and Rotary Magazine. She began writing about business and personal finance while working as a newspaper reporter more than 20 years ago, and enjoys covering stories that help people manage their money. Amy also works as a grant writer, specializing in helping nonprofits and artists obtain funding for their projects.
Amy's latest articles
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The adoption tax credit: How to qualify for the new $5,000 refundable credit
The adoption tax credit can go a long way to reducing the costs of adopting a child. And now up to $5,000 of this tax credit is refundable.
4 min read Aug 20, 2025 -
5 states with the highest income tax rates — and 5 with the lowest
Here are the 5 states with the highest income tax rates, and the 5 states with the lowest.
4 min read Aug 01, 2025 -
The 10 states with the highest property taxes, and the 10 states with the lowest
Property taxes are a major cost of homeownership. Here are the 10 states with the highest property tax rates, and the 10 states with the lowest rates.
4 min read Jul 21, 2025 -
Tax fraud: What it is and what you should know to avoid scams
Tax fraud can come with hefty penalties and fines, even jail time. Tax evasion is a type of fraud. But tax avoidance is legal.
3 min read Jun 23, 2025 -
Tax evasion is illegal, but tax avoidance? That’s smart financial planning — here’s what you should know
Al Capone may be the face of tax evasion and all that can go wrong if you purposefully don’t pay your taxes. But tax avoidance is legal, and even encouraged by financial experts.
4 min read Jun 20, 2025 -
South Dakota State Income Tax Rates
Here are the income tax rates, sales tax rates and more things you should know about taxes in South Dakota in 2024 and 2025.
2 min read Mar 28, 2025 -
Wyoming State Income Tax Rates
Here are the income tax rates, sales tax rates and more things you should know about taxes in Wyoming in 2024 and 2025.
2 min read Mar 14, 2025