A SPECIAL REPORT: TAXES
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DISASTER RELIEF: Here’s a little bit of good news about the February floods: They’re a tax break. . . . Affected Orange County residents, who suffered nearly $10 million in damage from last month’s floods, normally could not deduct losses until next year. But when President Bush declared the Southland a disaster area, it opened the tax floodgates. . . . Now they can claim losses on this year’s return.
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