2975 E. HILLCREST DRIVE #403, THOUSAND OAKS, CA 91362

(805) 497-4411

John Trapani, CPA

Putting The Pieces Together For You

Collaborative Services For CPAs and Tax Professionals

Disaster Income Tax Reporting Services Provided To Tax Professionals

WHY COLLABORATE?

As a tax professional with clients who have experienced a disaster-loss you face a significant decision:

Take a chance on providing services you have little or no significant experience or knowledge,

Provide the specialized income tax services themselves,

Attempt extensive research, or

Reach out to a CPA who has extensive experience with the subject.

The reasoning behind collaboration is compelling and Yet Fairly Simple, beginning with the risks for tax professionals without experience, including:

  • The high chance of making errors.
  • The financial impact of errors is often huge, but always significant to the client.
  • Clients’ valuable opportunities are easily missed.
  • Deadlines are missed, ignored or misunderstood.
  • A Tax professional lacking a comprehensive understanding of the law, regulations, cases and rulings will be at the mercy of the tax auditor’s determination.
  • How much time will it take to become competent to assist one or two clients successfully navigate through the record keeping and reporting process.
  • Even firms with 6, 15, 30 affected clients find it more effective to work with a specialist who understands each unique client situation without long time lags and research.
  • Even research is narrowed quickly and efficiently, including determining that an item needs to be researched.

Consider the many areas of tax law that you always bring in a specialist. Some firms hire specialists for cost segregation, business valuation, tax controversy settlement, reporting and managing deferred income plans. These areas all have a similar characteristic, the client has a need, the firm sees the area as a very technical area that experts with experience can provide the best results.

CPAs must comply with the AICPA Code of Professional Conduct (General Standard ET 1.300.001) that requires CPAs and their firms to undertake only those professional services they or their firm can reasonably expect to complete with professional competence.

Benefits of Collaborating with John Trapani, CPA

  • You don’t have to pay for general research time and down time of an in-house specialist.
  • John Trapani, CPA will maximize allowable Losses and minimize/defer/eliminate involuntary conversions Gains.
  • You will have the confidence in the tax reporting of the disaster that comes with engaging an expert in disaster-recovery income tax reporting.
  • If a client disagrees with an outcome, John Trapani, CPA is responsible for conclusion, the firm can be an advocate for a different position, letting the client know that the firm is fighting for the client’s best interests.
  • You will retain and strengthen your relationships with your clients.
  • Most clients express gratitude to John Trapani for his efforts and the firm still retains the professional relationship with the client on an ongoing basis.
  • You won’t have to invest the time to become an expert in reporting these unusual events.
  • You will have the support of John Trapani, CPA in an audit. (Although very few of losses and involuntary conversions prepared by John Trapani, CPA are audited.)

Call Today

John Trapani is available to discuss specifics of how to help you be a hero and protect your clients in difficult times. Call John Trapani, CPA today at (805) 497-4411 to discuss your client’s disaster income tax reporting and disclosure responsibilities.

Services provided are charged on a fee basis, based on the time necessary to complete the task — never as a percentage of any recovery.

PROTECT YOUR CLIENTS, PROTECT YOURSELF!