Tax Relief for Disaster Related Property Loss

Property owners rely on us to identify, document, and evaluate casualty loss deductions under federal and state tax law.

See If You Qualify Free Consultation

Palisades & Eaton Fires:

18,300+
Destroyed/Damaged Structures
13,000+
Smoke Damage Claims
42,100+
Insurance Claims Filed
70%
Displaced Residents after 1 year

When do Casualty Losses Qualify for Tax Relief?

A casualty loss is damage, destruction, or loss of property resulting from a sudden, unexpected, or unusual event – such as a wildfire, hurricane or flood. When such events are Federally Declared Disasters, a loss may be deductible under IRC §165 to the extent it is not compensated by insurance or otherwise, subject to the applicable tax rules and limitations.

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Disaster Areas Served

Pacific Palisades, CA

Malibu, CA

Pasadena, CA

Altadena, CA

Tampa, FL

Lahaina, HI

Do You Qualify for Tax Relief?

Owners who have NOT filed for a Casualty Loss Deduction

You may qualify for a casualty loss tax deduction if you have not received full financial restitution from your insurance provider and other sources for losses associated with rebuilding, repairing, or replacing your property.

Prescreen your loss with our expert team.

Owners who HAVE filed for a Casualty Loss Deduction

You may qualify to amend a prior year’s tax return with a revised casualty loss deduction if you have not received full financial restitution for rebuilding, repairing, or replacing your property and associated losses. It’s important to have a qualified specialty provider analyze and document your case to optimize your tax relief.

Review your deduction with our team.

Advisors to Owners of Property in Federally Designated Disaster Areas

We collaborate with CPAs and tax professionals, attorneys, property appraisers, and other trusted advisors to optimize outcomes for property owners.

Contact Us to discuss collaboration.

Calculating Property Loss Tax Relief

For illustrative purposes only. Many factors affect a property owner’s actual Tax Benefit from a Casualty Loss Deduction.

Property Loss
$2,000,000
Damage or qualified
property loss
Insurance Recovery
$400,000
Based on insurance
policy coverages
Casualty Loss Deduction
$1,600,000
Unreimbursed
losses
Tax Benefit
$640,000 – $784,000
Assuming 40% – 49%
tax bracket

Optimizing Your Tax Relief

Our seamless, proven approach to evaluating, documenting, and substantiating your casualty loss claim to optimize results.

Free Consultation

01
Our expert team meets with you to review your situation, provide a preliminary assessment of your casualty loss, and answer your questions.

Documentation Intake

02
We work with you and your trusted advisors to collect and organize the records needed to support the loss analysis and tax relief filing position.

Appraisal Coordination

03
We coordinate with qualified appraisers to provide a casualty-loss-specific appraisal to measure the decline in your property’s value per applicable tax rules and IRS guidance.

Loss Analysis & Substantiation

04
We analyze the appraisal, documentation, insurance information, and other relevant facts to determine the supportable loss position.

CPA-Ready Package

05
We deliver a comprehensive package to you for your CPA to review, prepare, and file your claim.

Trusted Advisors for Tax Related Issues

Ready to Explore Your Tax Relief Options?

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