John Trapani, CPA

Putting The Pieces Together For You

(805) 497-4411

2975 E. HILLCREST DRIVE

THOUSAND OAKS, CA 91362

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Visit our blog at Accountant For Disaster Recovery

 

For more than 20 years I have assisted taxpayers who have experienced a disaster.

People have found this information so valuable that I established a blog to help people  prepare in advance of a disaster (which, of course, we hope does not occur) and recover from a disaster if they experience one.

Below are recent blog topics and links to the blog articles.

Income Taxes and Disasters — 2012 Year End Summary

Was 2012 a big year for disasters? Well it depends on how you look at it. There were 47 declared disasters in 2012. Fourteen years, starting with 1953 exceeded the 47 count. Ten of the fourteen fell in the period between 2002 and 2011. Three occurred between 1996 and 1999. The first year that exceeded 47 declarations was Read more

“I Have a Casualty Loss – Will It Prompt An IRS Audit?”

As a local accountant, I have clients in Westlake Village and throughout the Conejo Valley. As we all know, in our area we’re subject to a variety of disasters – fires, floods and good old-fashioned earthquakes.

It’s difficult enough dealing with these disasters – repairing and rebuilding as necessary. If you have good insurance in place, then the job becomes much more manageable. But even with insurance you’re often left with a casualty loss. In this case, one of the common questions I hear is, “Will filing a casualty loss prompt an IRS audit?”

Good question! And the quick answer is – no one knows! No one, that is, outside of the IRS – and they ain’t talking.

Still, we have indications of the process the IRS uses to select audits, and I’ve written more about this on my Accountant For Disaster Recovery blog.

Categorized under: IRS Guidance, Tax Advice
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July 31, 2014

Loss Valuation – Cost of Repairs Method FAQs

 

News & Advice From One of America’s Leading Disaster Recovery Specialists

Disaster recovery is a complicated matter. The IRS realizes this and has recently posted information in a Frequently Asked Questions format, addressing some thorny issues related to disaster casualty losses.

You can read these FAQs on our Disaster Recovery blog.

For a quick overview, the topics covered include: Read more…

Categorized under: IRS Guidance
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February 21, 2013