Topic: Sandy

Tax News: Want to Help Sandy Relief Efforts? Here Are 3 Tax-Exempt Ways

“Because Hurricane Sandy has been designated a qualified disaster for U.S. federal tax purposes, certain payments made by employers and others to assist disaster victims will be considered qualified disaster relief payments and thus can be excluded from taxable income.” (Proskauer) Employers and small business owners who help victims of Hurricane Sandy deserve a break,… Read more »

3 Tips for Filing Hurricane Sandy Insurance Claims for Your Business

“Businesses with operations in the path of the storm may have suffered significant property damage and an interruption of business. Businesses nationwide—and even worldwide—also may have suffered contingent business interruption losses due to the inability to obtain supplies, among other things, from business in the Eastern United States that suffered direct physical property damage.” (Perkins… Read more »