John Trapani, CPA

Putting The Pieces Together For You

(805) 497-4411



Professional Course For CPA Colleagues: Disaster Recovery Income Tax Reporting And Income Tax Benefits

Recently, the Director of Education, Hayden Williams, CPA, at the Washington State CPA Society determined that a class on Disaster Recovery issues was needed for his constituent CPAs.

Consequently, we have developed a class for Washington State CPAs:

DISASTER RECOVERY Income Tax Reporting and Income Tax Benefits 

The seminar is tentatively planned to be offered both online and at the Society’s Learning Center in Bellevue, Washington — enrollment date to be determined.

The Washington CPA Society website describes the class as follows:

The course level is listed as basic as it assumes no prior knowledge of casualty or involuntary conversion tax law. However, the material goes into detail and explores the depths of the ways clients can “innocently” make major errors when the unique concepts of this area of the tax law are applied incorrectly or without understanding the consequences of each decision.

Don’t forget, these events involve assets of major value and investment for all taxpayers involved in these tragic events.

CPE Credits: Tech/Taxes 8.00

Course Type: Seminar Instructor: John Trapani CPA

Course Level: Basic (See above explanation of “Basic”)

Fees: Member – $305 NonMember – $385

Objectives: The objective of this material is to provide tax professionals with in-depth information on how to avoid the pitfalls in advance of delivering a tax return to a client where the taxpayer has experienced a catastrophic physical loss.

Major Subjects: This course will prepare the CPA for the gamut of issues that arise in a disaster as well as individual losses and condemnations, including:

  • Critical filing dates
  • Is there a Loss or a Gain?
  • Tax Year to Claim Loss?
  • Sell & Buy or Rebuild?
  • Replacement Rules?
  • Reinvestment periods
  • Extensions
  • Realization vs. Recognition
  • Qualified replacement property
  • Exclusions
  • Deductions, restrictions and limitations
  • Insurance basics
  • And more

For more information, see my blog post on Accountant For Disaster Recovery. 

Or call me at (805) 497-4411.

Categorized under: Education, IRS Guidance, Tax Advice

October 27, 2014