In 2017 and 2018 the worst fires to date were recorded in California.
2019 is no exception as wildfires are raging in both Northern and Southern California making it necessary for the Californian Government to declare a State of emergency across the entire State of California. Fifty-four thousand acres have been set alight In Northern California and 94 structures destroyed leaving a total of approximately 80,000 structures under threat. In Sanoma 180,000 people have been given evacuation orders.
Southern California lost 4,600 acres to the fires, and about 50,000 people were ordered to evacuate their homes. Fortunately, the winds subsided, and most residents are saftley back home.
Many areas have been affected by power outages. There have also been some reports of looting.
If your business or property has been affected by any of these horrific fires, you may be able to claim a disaster loss deduction on your tax return.
Gordon Frasier Inc can advise you regarding the type of losses that might qualify.
Gordon Frasier Inc can help you to obtain a copy of your California Tax Return.
If you aren’t sure how to treat losses incurred in the wildfires when filling in the Tax Forms, 540 Gordon Frasier can assist.
GORDON FRASIER INC IS HERE TO ASSIST YOU