For Casualty Loss we have terms and definitions in 4 topics. The topics are Accounting, Accounting Terms, Finance and Tax.

Casualty Loss (Accounting)

Any loss of an asset due to fire storm act of nature causing asset damage from unexpected or accidental force. Generally it is deductible regardless of whether it is business or personal.

Casualty Loss (Accounting Terms)

Any loss of an asset due to fire storm act of nature causing asset damage from unexpected or accidental force. Generally it is deductible regardless of whether it is business or personal.

Casualty Loss (Finance)

A financial loss caused by damage, destruction, or loss of property as a result of an unexpected or unusual event.

Casualty Loss (Tax)

A loss, which is the result of partially or completely destroyed property; the destruction of which was caused due to unavoidable and unexpected occurrences such as fires, floods, storms, hurricanes etc.

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