Although we're not tax professionals we know that doing your income taxes following a disaster can be tricky. We've found a great guide by a CPA who specializes in taxes following a disaster. The booklet is called "Tax Consequences Following A Disaster" and was written by John Trapani. You can get the booklet HERE.
Although John is no longer an active member of CARe, he helped found CARe after he dealt with the aftermath of the 1994 Northridge Earthquake.
A large loss is a complicated process and income taxes are a big part of that. Make sure you go to an expert who has dealt with this topic time and time again.
Cooperation is key. Or so says the 10th Circuit at least, in addressing an appeal from a district court’s dismissal of an insured’s action in which he failed to cooperate with his insurer’s claim investigation. The 10th Circuit held that the insured, Kelly Bryant (“Bryant”), had not clearly demonstrated that the insurance company, Sagamore Insurance Company (“Sagamore”), breached its contract or otherwise acted unreasonably and in bad faith when it denied Bryant’s claim based on his noncooperation.
Damage to insured properties caused by the explosion in the East Village area of New York City yesterday, are likely covered by standard property insurance policies, according to the Insurance Information Institute (I.I.I.).
Homeowners insurance policies (including condos and co-ops) typically cover damage caused by explosion, fire, smoke and building collapse. Renters who have renters insurance also have coverage for their personal possessions. Both renters and homeowners will likely have coverage for the cost of additional living expenses if their homes are uninhabitable due to damage or destruction of the property.
SAN DIEGO - A teenage girl was convicted Tuesday of multiple arson charges for starting a fire last May that sparked the larger Cocos wildfire, which blackened nearly 2,000 acres and destroyed more than 35 homes and other structures.
As many as 90 percent of wildland fires in the United States are caused by humans, according to the U.S. Department of Interior. Some human-caused fires result from campfires left unattended, the burning of debris, negligently discarded cigarettes and intentional acts of arson. The remaining 10 percent are started by lightning or lava.
Scientists say the earthquake fault that runs through the coastal city of Ventura, Calif. can produce strong shaking and dangerous tsunamis, prompting state officials to study whether to revise hazard maps.
ESCONDIDO, Calif. - There is finally relief for victims of last year's Cocos Fire in the North County. Mitzi McKinney and 27 of her neighbors were burned out of their homes when the Cocos Fire tore through their rural Escondido neighborhood in May 2014. They knew people had donated money for the fire victims, as they received some at the start, but they didn't know how to get the rest.
Approximately 90% of all wildfires in California are caused by people. That is why fire agencies need the public’s help to prevent them. Whether it’s ensuring a campfire or landscape debris burn of leaves and branches is completely extinguished, or keeping a vehicle well maintained to prevent sparks, following just a few simple steps can help prevent wildfires. -
SAN DIEGO (CBS 8) – The mother and sister of a teen girl accused of starting last year's devastating Cocos Fire took the stand Thursday in her trial. During Thursday's proceedings, the unidentified 14-year-old girl's sister cried while answering questions from the prosecutor.
California Public Utilities Commission President Michael Picker Friday proposed increasing to $1.6 billion a penalty imposed on PG&E for safety violations related to a fatal 2010 gas pipeline explosion in San Bruno.
When the South Napa Fault ruptured last summer and shook the historic city of Napa, the earthquake hit the oldest buildings with the heaviest damage, a new review by seismologists reveals.
Immediately after the Aug. 24 quake, teams of structural engineers from throughout the Bay Area checked every building in the city for signs of damage. They tagged all the unsafe structures with warning signs. Red tags on 165 buildings signaled they were the most damaged and no one could enter. Yellow tags were placed on 1,707 buildings that were less damaged but restricted until deemed safe.
The history of humanity has always been a race between learning and disaster.
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If there were a major earthquake in Los Angeles, with bridges and highways and railroads and airports all shut down and huge buildings collapsing, I don't care how much planning you do, the first 72 hours is going to be chaotic.