At Boyum Barenscheer, we want to extend our deepest empathy to you during this challenging time. Whether you’ve been affected by the recent storms in Florida, the wildfires in California, or any other disaster, we understand the emotional and financial toll these events can bring.

During a time like this, we know that your immediate focus is on the well-being of your family, your safety, and rebuilding your life. Taxes may understandably not be a priority for you right now, but when you’re ready to address any related financial matters, we want you to know that we’re here to help.

We are committed to supporting you as you navigate the complexities of casualty loss claims and the related tax implications. Loss or damage to your home or property can feel overwhelming, but you are not alone in managing the financial aspects of this situation. Below is a list of the key information you’ll need when calculating disaster losses:

Key Information Needed to Calculate Disaster Loss:

• Date of Loss
• Address and County Where the Property Is Located
• Date the Property Was Purchased, Cost of Property, and Amount of Improvements
• Fair Market Value of the Property Before and After the Loss
• Costs to Replace or Repair the Property, including demolition, rebuilding, and purchase of personal property
• List of Personal Property Lost, including household items and landscaping with values
• Amount of Insurance Proceeds Received, including reimbursements for living expenses

Amy Swenson: Your Dedicated Specialist

At Boyum Barenscheer, Amy Swenson is our dedicated specialist who advises clients on casualty loss claims from a tax perspective. Amy is here to guide you through the process, helping you understand the tax relief options available, ensuring your future tax returns accurately reflect your situation, and easing the financial burden during this difficult time.

Please don’t hesitate to reach out to us for a consultation, or simply to discuss your situation. We are ready to provide the personalized advice and support you need during this time.

In the meantime, take care of yourself and your loved ones. We are thinking of you and remain here to help in any way we can.