Tuesday, January 28, 2014

ASSISTANCE FOR COLORADO TAXPAYERS



ASSISTANCE FOR COLORADO TAXPAYERS RECOVERING FROM FIRES, FLOODS, AND MUDSLITES

FREE EDUCATIONAL WORKSHOPS
“POST DISASTER TAX MATTERS”

John Trapani, CPA will be speaking to people who experienced disaster losses in 2012 and 2013. He will be in three cities during the week of February 11th to 13th, 2014.

The meetings are being organized by the recovery staffs of Larimer County, Boulder County, and El Paso County. A consumer advocacy group, United Policyholders (UP) has been instrumental in planning and organizing these meetings.

The meetings will be in the evening and will cover topics including:
Income tax benefits and reporting responsibilities that can help and hurt people who experienced a disaster loss
Major questions that will be discussed include: 
Is there a loss or a gain? Tax year to claim a loss? Sell & buy or rebuild?
Documenting and claiming insured and uninsured losses
Tax consequences of insurance settlements, SBA loans, FEMA grants, etc.
Special rules for federally declared disasters
Determining your cost basis for damaged property

Larimer, Boulder, and El Paso Counties, Colorado
Here are the meeting dates, times and locations:
Date

Time

County and Location of Meeting
Tuesday,
February 11, 2014

6:30 pm to
8:30 pm

Larimer County
    Loveland Senior Center – Cherry Room
    (Located behind Chilson Rec. Center)
    700 East Fourth Street, Loveland
Wednesday,
February 12, 2014

6:30 pm to
8:30 pm

Boulder County
County Courthouse
1325 Pearl Street
Commissioners Hearing Room, 3rd Floor
Thursday,
February 13, 2014

6:00 pm to
8:00 pm

El Paso County
Centennial Hall Auditorium
200 S. Cascade Ave.
Colorado Springs

Please RSVP for these workshops at www.uphelp.org/RSVP

Who should attend?
If you had property damage resulting from one of the following Federally Declared Disasters you will receive important income tax information that will assist you in your recovery process.
Number
Date
Incident Description
4145
9/14/13
Severe Storms, Flooding, Landslides, and Mudslides
4134
7/26/13
Black Forest Wildfire
4133
7/26/13
Royal Gorge Wildfire
4067
6/28/12
High Park And Waldo Canyon Wildfires

These meetings are being coordinated and organized through the efforts of the following:

Community Foundation of Northern Colorado

BOULDER COUNTY, Garry Sanford
           Long Term Flood Recovery Group of Boulder County

LARIMER COUNTY, Suzanne Bassinger

EL PASO COUNTY, County Commissioners: Sallie Clark, Darryl Glenn, Peggy Littleton
           Recovery Manager: R. C. Smith
           Public Information Staff: Dave & Nancy

WALDO CANYON FIRE VOLUNTEERS
UP” PERSONNEL & VOLUNTEERS including Kerri Olivier

Other fires that caused significant damage affected many taxpayers. If you had damage from a fire, flood, mudslide or other severe winter weather, you are also welcome to attend one of the meetings to gather important information on how the tax laws affect your recovery. Below is a list of other significant events during 2012 and 2013:

Number
Date
Incident Description
5030
6/21/13
East Peak Fire
5031
6/21/13
West Fork Fire Complex
5022
10/23/12
Wetmore Fire
2985
6/24/12
Weber Fire
2975
3/26/12
Lower North Fork Fire





JOHN TRAPANI assists both taxpayers directly and advises taxpayers’ tax professionals.
This material was contributed by John Trapani. A Certified Public Accountant who has assisted taxpayers since 1976, in analyzing and reporting transactions of the type covered in this material.  

© 2014, John Trapani, CPA,
All rights to reproduce or quote any part of the chapter in any other publication are reserved by the author. Republication rights limited by the publisher of the book in which this chapter appears also apply.


JOHN TRAPANI


Certified Public Accountant


2975 E. Hillcrest Drive, #403


Thousand Oaks, CA 91362


(805) 497-4411       E-mail John@TrapaniCPA.com




Blog: www.AccountantForDisasteRrecovery.com


                                                                                         
It All Adds Up For You





Internal Revenue Service Circular 230 Disclosure
This is a general discussion of tax law. The application of the law to specific facts may involve aspects that are not identical to the situations presented in this material. Relying on this material does not qualify as tax advice for purpose of mounting a defense of a tax position with the taxing authorities
The analysis of the tax consequences of any event is based on tax laws in effect at the time of the event.