I need help creating a thesis and an outline on Individual Income Taxes. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required.

  

I need help creating a thesis and an outline on Individual Income Taxes. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. Casualty loss is not deductible if the damage or destruction is caused by accidental breaking like glassware, fire that was set willingly and finally a car accident is neglected or willingly act caused it. Keeping adequate records is one of the most important things a taxpayer can avoid a potential IRS audit doesn’t result in any assessment of additional tax, penalties and interests. This method helps you defend yourself against IRS audit.According to the United States internal revenue code, there are certain losses that are considered for tax purposes. This means that the loss can’t be compensated by Insurance and it must be sustained during the taxable year. If the losses are casualty or theft of personal, family, the loss must result from an event that is identifiable, and damaging or unusual nature. Losses incurred in a business or a profit-seeking activity are deductible whether if not they are due to casualty or theft (Pratt & Kulsurd, 2012). Under the current tax laws a casualty loss deduction is allowed if the extent of the loss is not reimbursed by insurance. This law was enacted because of the natural causes that frequently happen and the insurance companies are not fully equipped and able to pay for the massive damages caused. The tax-deductible losses have been modified for years, allowing losses under the tax code. In the 1880s deductions were allowed for losses related to fire and shipwrecks. In the 1990s it covered natural disasters and other casualties and theft. The federal government has responded in so much losses by offering aid to help cover by removing debris and rebuilding areas hit hardestSome people are covered by insurance but the insurance doesn’t cover the entire loss fully, if a tax payer doesn’t have insurance, he/she can be compensate by the federal income tax return for the casualty loss related to disaster.

Don't use plagiarized sources. Get Your Custom Essay on
I need help creating a thesis and an outline on Individual Income Taxes. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required.
Just from $10/Page
Order Essay

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 30% with the discount code ESSAYSHELP