green palm trees covered with snow in unusually cold winterWhen Texas froze in February, I learned a couple of things: i) snow storms have names, and ii) people in my neighborhood aren’t great at covering plants. Those poor sago palms never had a chance.

Compared to the damages to homes and burst pipes throughout the state, clearing out the flower beds after Winter Storm Uri may be just a minor inconvenience, but there was a lot of dead foliage that needed to be replaced and removed all over Texas. Taxpayers should remember that those storm-induced landscaping expenses could qualify for a casualty loss deduction on their income tax returns. Because special tax rules apply to federally declared disaster area losses, potential deductions for property owners include the cost of removing the damaged plants, measures taken to preserve the shrubbery and any replanting costs necessary to restore the property to its approximate value before the casualty.
Continue Reading Deduct the Dogwoods: Tax Deductions for Winter Storm Uri Landscaping Expenses

Not surpisingly, the IRS has announced  that  areas affected by Hurricane Sandy in Connecticut, New Jersey and New York will receive tax relief.

Hurricane Sandy

This generally means delayed filing and payment deadlines.  However, people should also be aware that if they have suffered personal losses  – a tax deduction is available for those losses from fires,