Disaster Recovery

When an earthquake, wildfire or flood can affect Californians like you. Should the Federal Emergency Management Agency (FEMA) declare a disaster in your area, you may be eligible for certain tax and other benefits. Regardless, it is a good idea to be prepared for a disaster beforehand. Following are various resources that can help you learn how to minimize the financial impact of a disaster.

From the IRS: How to reconstruct records lost in a natural disaster

Whether it's personal or business property that has been lost or destroyed, the IRS has some steps that can help you reconstruct important records.

Disaster Recovery Documents

Community Assisting Recovery, a Southern California-based nonprofit, provides documents and information that you can download at no cost. You’ll find guidance on how to take care of issues such as inventorying your personal property and filing an insurance claim.

How to Claim a State Tax Deduction

If you had a casualty loss from a disaster that occurred in an area declared a disaster by the president of the United States, you may be able to claim a deduction on your California tax return.

AICPA Disaster/Casualty Loss Tax Practice Guide