When you have a loss your first contact should always be with your insurance carrier but what happens when your expenses aren’t fully covered? In these situations, you might be eligible to deduct the part of the loss that isn’t covered by insurance as a tax credit. To calculate a potential deduction, we start with your adjusted basis in the property before the casualty (your purchase amount plus any improvements) less the fair market value after the loss. If you received any insurance proceeds they are subtracted from your credit. There are some additional limits that apply based on your earned income.As a resident in the state of Florida we are all aware of the potential for us to sustain hurricane, flood damage or other casualty losses. What you may not know is how it is treated for taxes and what the rules are for declaring those losses on your Federal tax return.
You’ve step out onto the green and just as the bright Florida sunshine kisses your forehead, a cooling breeze brushes your face and you begin to focus in on your shot. We all know Seven Springs Golf and Country Club is known for creating unforgettable golf memories, but golf is not the only thing that keeps us coming back for more. This award winning Country Club’s “after golf” experience is nothing less than excellent. Stunning views of cypress woods, gorgeous lakes and majestic pines embellish the grounds of this 36 hole golf facility, offering guests remarkable scenery within the unique beauty of Trinity, Florida.
As time passes, families grow and change and, too often, family history can become lost. When you look at an old photo you may not remember its significance. If your grandparents are no longer around to tell the story behind the photograph, the memory may be lost forever. As time passes, your old home movies, slides, photos, and videos change too. Movie film, slides, and photos fade, change color, and become brittle or fragile. Even videotape degrades over time and when video formats become obsolete; your family’s memories may be lost.
Berkshire Hathaway HomeServices Florida Properties Group has been proudly serving the Tampa Bay area for more than 50 years. Locally owned by long-time residents and civic leaders, Dewey Mitchell and Allan Crumbley, Berkshire Hathaway started with one office in the Tampa Bay area and has since grown into a full service organization with 21 offices serving a 6-county area. Berkshire Hathaway HomeServices Florida Properties Group is consistently ranked among the leading real estate companies in the Tampa Bay region. Mitchell and Crumbley have focused on inspiring their agents and employees to have the highest level of ethics, professionalism, honesty, integrity and respect when serving clients and the community.
With the popularity of cooking shows on the rise, what some have called a “lost pastime” is prevailing and going strong. From boiling an egg to preparing a soufflé, Chefs of all ages are expressing their creativity through culinary arts. After having the chance to watch many of these outstanding cooks, one tip has been consistent amongst them all; Good-quality pots and pans made of the right materials really can improve your cooking.