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COVID-19 Update 3.25.2020

  • March 25, 2020
  • by gbs
  • No Comments

The Treasury Department and Internal Revenue Service announced the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020.  We are continuing to work and complete as many tax returns as we can…

COVID 19 Letter 3.16.20

  • March 16, 2020
  • by gbs
  • No Comments

Dear Clients and Friends, As the current situation surrounding the outbreak of the coronavirus (COVID-19) continues to evolve, please know that the health and well-being of our clients and staff is a top priority at Scharf Pera & Co., PLLC….

2019 – 04/23 – Casualty loss deductions: You can claim one only for a federally declared disaster

2019 – 04/23 – Casualty loss deductions: You can claim one only for a federally declared disaster

  • April 23, 2019
  • by Kelly Frazier
  • No Comments

The rules for writing off personal casualty losses on a tax return have changed for 2018 to 2025. Specifically, taxpayers generally can’t deduct losses unless the casualty event qualifies as a federally declared disaster. (The rules for business or income-producing…