Tax options for tornado survivors

News

DAYTON, Ohio (WDTN) – Filing your taxes can be a daunting task, especially for those affected by the Memorial Day tornadoes.

Charissa Rand with Jackson Hewitt Tax Service joined 2 NEWS to share available resources for tornado survivors.

If you suffered damage during the tornado outbreak, you should check with your tax expert to see if you qualify for Disaster Area Loss.

“If you qualify for it, you can actually take a portion of those losses in addition to whatever your standard deduction is,” Rand said. “That would give you a higher deduction, therefore reducing your tax liability, possibly putting more money in your pocket.”

Rand adds that you should also be sure your W-4 is up-to-date with any lifestyle changes such as marriage or having children, as that can impact your taxes as well.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

More As Seen on 2 NEWS

Trending Stories

Don't Miss

More stories not to miss...

Latest News Videos

Tech Talk- A passwordless future

Tri-Village track star running for gold in Tokyo

Conservative talk show host Phil Valentine hospitalized with COVID-19

Cleveland Indians announce new name

Banfield: Flight attendants learning self-defense to handle unruly passengers; 'Shark Tank' host on the stand

Man released from prison to marry sister of man he was accused of killing

More News