Uninsured losses of property due to theft are tax deductible. In the case of personal property, however, a theft loss deduction is a personal itemized deduction claimed on Schedule A. Such losses are deductible only if, and to the extent, they exceed 10 percent of the taxpayer’s adjusted gross income. Moreover, the first $100 of such losses are not deductible.
For tax purposes, theft includes far more than a mugging or burglary. It includes “any criminal appropriation of another’s property by swindling, false pretenses, and any other form of guile.” Thus, you can be entitled to theft loss where you can show that a contractor deliberately lied and deceived you to get your money.
Follow These 10 Twitter Accounts for North Korea News
Herman is the Seoul bureau chief for Voice of America. After being based in Japan for many years, he now covers the Korean Peninsula for the the federally-funded broadcast channel. Herman is a prolific Twitter user, with more than 20,000 tweets recorded, and he’s a great source for constant updates coming out of North and South Korea.
Jean H. Lee
Lee is another great go-to source. She is the Associated Press bureau chief in Seoul and she is also one of the few western journalists to ever visit North Korea. In a February visit, she became probably the first person to ever send a mobile tweet from the tech-isolated country. She also snapped a few Instagrams directly from Pyongyang.
As a lecturer in Asian History at Queen’s University Belfast in the UK and the chief editor of Sino-NK, a blog devoted to analyzing and reporting on the relationship between China and North Korea, Cathcart is an authoritative voice. He is also an extremely prolific Twitter user, so he’s good for multiple updates throughout the day.
Gale is the Korea bureau chief for Dow Jones and the Wall Street Journal. While Gale doesn’t tweet as much as others, he shares a lot of news stories, so he’s a good follow if you’re looking for a curated stream of stories about the Korean conflict.
Apple makes it possible to restrict in-app purchases for both iTunes and iOS devices. Go to the Settings menu of your device, click General and then Restrictions. Click the tab on the top that reads Enable Restrictions. You’ll be prompted to choose a PIN for this and you should NOT share it with your kids. Once that’s confirmed, scroll down to the Allowed Content list. You’ll see iTunes, Installing Apps, and various other settings you can change, such as restricting your child from listening to explicit music.
Scroll down and, mid-way down, you’ll find an option for In-App Purchases. Simply toggle this on or off. You can choose whether you want the protection to take effect immediately or let you keep purchasing for 15 minutes. If you’re handing your device off to your kids, click immediately.
To make changes or disable controls, go back in using your selected PIN.
Did you miss this tax deduction: You can deduct your time donated to a nonprofit:
The IRS does not allow for a deduction for services provided to a nonprofit. For instance, if you are a chef and decide to donate your time to cook for homeless individuals at a local shelter, your time donated is not deductible. However, you may be able to deduct your mileage traveled to and from the nonprofit, payments made for food and supplies, or even amounts given to the organization.