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ABOUT THE AUTHOR OF THE THIS BLOGJOHN TRAPANI, Certified Public Accountant, has over twenty-two years experience assisting individuals and businesses in their process of recovering from disaster events including fires, floods, earthquakes and more.
The firm of JOHN TRAPANI, CPA, regularly assists people who have experienced a disaster or other physical catastrophe. JOHN TRAPANI, CPA, continually monitors changes in the rules affecting taxpayers who have experienced a disaster or other physical catastrophe.
Yes, John’s personal and professional experience has been extensive. This experience and his constant review of rulings and court cases are available to apply to your catastrophic event recovery.
A catastrophic loss will likely be the largest dollar tax item most taxpayers who experience these events will ever report on a tax return. A check from an insurance company in these cases, likely one of the largest number most of people will see on check with their name. The amounts can be enormous and the care that needs to be applied should be as significant.
Whether it is a loss from a fire, tornado, earthquake, hurricane, wildland fire or any of the other events that create catastrophic havoc … it is important that you are served in these cases by a professional who understands the applicable laws. What may appear to be a minor decision can have dramatic impact on your ultimate outcome.
Your experience is unique and deserves individual understanding and analysis. We have seen many situations and use lessons learned and knowledge gained from each one of these unique cases to help you.
JOHN TRAPANI, CPA, experienced the 1994 Northridge Earthquake first-hand; he has a unique professional perspective on the process of recovery from a disaster from the perspective of a professional and as one who experienced the trauma chaos.
The firm provides income tax assistance to help you in your recovery process.
SERVICES PROVIDED TO TAXPAYERS AND THEIR ADVISORS:
Explaining to taxpayers the tax affects of the casualty loss / involuntary conversion
Analysis of the loss event affect on taxpayer’s financial situation
Advising taxpayers on how to report a catastrophic event
Preparation of tax returns that include casualty loss deductions or deferral of involuntary conversion gains
Representing taxpayers in an audit of their casualty loss deductions or deferred involuntary conversion gains
Advising taxpayers on how to proceed in the resolution of their loss
Reviewing tax returns already filed
Preparing amended tax returns to correct tax returns previously filed