Blog

Tips for Disaster Survivors

UNDERSTAND HOW TAXES
MAY APPLY TO YOUR
INSURANCE AND SDG&E RECOVERIES
RE: 2007 WILDFIRES

In a federally declared disaster, such as the 2007 San Diego Wildfires, special federal and state tax law provisions provide some tax relief for fire victims:

  • PERSONAL PROPERTY RECOVERY EXEMPT FROM TAX
  • AN ADDITIONAL $250,000 PER PERSON CAPITAL GAINS EXCLUSION
       IRS § 121 HOMEOWNER’S EXCLUSION
       MARRIED COUPLE FILING JOINTLY--$500,000
       SINGLE HOMEOWNER--$250,000
  • DISASTER VICTIMS HAVE 4 YEARS FROM THE END OF THE YEAR IN WHICH THEY REALIZED GAIN TO PURCHASE OR REBUILD THEIR HOUSE. IRS § 1033(h)(1)(B)
  • IF STILL INVOLVED IN A LAWSUIT AT THE END OF FOUR YEARS, IRS WILL GRANT AN EXTENSION IF ONE IS REQUESTED TIMELY
  • REASONABLE TAX FILING EXTENSIONS ALLOWED

NOT SO GOOD NEWS, BELOW ARE TAXED AS ORDINARY INCOME AT HIGHEST RATE:

  • EMOTIONAL DISTRESS
  • PUNITIVE DAMAGES
  • LOST WAGES
  • LIVING EXPENSE SETTLEMENTS IN EXCESS OF ADDITIONAL LIVING EXPENSES INCURRED
    ADDITIONAL INFORMATION INCLUDED HERE

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Tax information is provided by Ms. Anna Maria Galdieri, CPA.  Ms. Galdieri has been actively involved in disaster tax issues and reformation since the 1991 Oakland fire.  She is nationally known for her disaster tax expertise and consumer advocacy.  While general tax information is provided free on the CARe website, her private consultations are subject to her hourly fee of $350.  She recommends emailing your tax questions to This email address is being protected from spambots. You need JavaScript enabled to view it..

 

There are all kinds of emergencies out there that we can prepare for. Take a zombie apocalypse for example. That’s right, I said z-o-m-b-i-e a-p-o-c-a-l-y-p-s-e. You may laugh now, but when it happens you’ll be happy you read this, and hey, maybe you’ll even learn a thing or two about how to prepare for a real emergency.

Read More:
http://emergency.cdc.gov/socialmedia/zombies_blog.asp

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IF YOU, OR ANYONE YOU KNOW, DID NOT FILE A SDG&E CLAIM
THEY CAN—RIGHT NOW!

Time to file a claim was extended due to the class action
which was recently dismissed by the court.

• LET YOUR FRIENDS, NEIGHBORS, RELATIVES KNOW TO FILE!
• EXTENDED BECAUSE CLASS ACTION WAS DENIED
• NEED TO ACT NOW BECAUSE SDG&E WILL APPEAL DECISION

PLEASE NOTE:
• RULING EXCLUDES EMOTIONAL DISTRESS CLAIMS

We have recent court filings that show how the current cases are being handled.

Please call CARe at 888-216-8264 or email This email address is being protected from spambots. You need JavaScript enabled to view it. for the latest information or for copies of court filings.

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PLEASE EMAIL QUESTIONS TO This email address is being protected from spambots. You need JavaScript enabled to view it.

Inspirational Quotes

Love the moment. Flowers grow out of dark moments. Therefore, each moment is vital. It affects the whole. Life is a succession of such moments and to live each, is to succeed.

Corita Kent

Testimonials

We lost our home in the 2007 Witch Creek Fire in Poway CA. As was the case with most (if not all) of my neighbors, we were drastically under insured through no fault of our own. I don’t believe that anyone is prepared for such a catastrophic emotional and financial loss. The task of completely rebuilding your life is monumental. Fortunately, the city of Poway co-operated with CARe and allowed them to hold bi-weekly insurance meetings in the City Chambers. After attending 2 of the group meetings we then scheduled several one-on-one meetings with CARe and were able to start to piece together the puzzle that is a catastrophic insurance claim. The resources which CARe was able to put us in touch with were incredible, and after they showed us the basics of handling an insurance claim we felt that we had knowledge to work through the once daunting task of negotiating with our insurance company. We could not have made it through the process without the information, help and encouragement that we received from CARe

Witch Creek Fire Survivor, 2007