What is disaster loss?
The Bankrate.com financial term of the day is: "Disaster Loss."
When the president has declared your community a federal disaster area after a hurricane, earthquake or other calamity, your property that's been destroyed or damaged qualifies for special tax breaks. Your disaster loss is deductible, and you can even enjoy the tax benefit immediately by filing an amended return for the previous year.
If the president issues a disaster declaration for your town, your disaster loss will earn you a break from the Internal Revenue Service that you can take while you're still picking up the pieces.
For more on deductions, visit the Taxes section at Bankrate.com.
Do you have a life insurance policy for your dependents? Is it enough?
Get in the habit of reviewing your policies annually -- you could save money by doing so.
Most women don't have a policy or are under-insured.
Not sure when to review your insurance policy? Experts share their thoughts on when to do so.
Shopping for insurance? Follow these tips from top experts in the insurance field.
Leslie Corcoran, CFP, discusses using immediate annuities for retirement income.
Have fallen gas prices given Americans a reason to increase their discretionary income?
Not all items at dollar stores are good deals. But here are five finds that can be bargains.
You've still got plenty of time. Take advantage of tax-favorable vehicles such as a 401(k) plan and IRA.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.