Steps to Follow If You Have Lost Your Home or Business in Palisades Fire

On: January 15, 2025

The California wildfire is a nightmare for many families and businesses. The fire consumed the entire neighborhood of Palisades. One can feel helpless, but with the right information, it’s possible to come out of this crisis.

Step 1: Ensure Everyone is Safe and Check for Temporary Housing

The first step is to find a shelter that will help a person protect their family members from any harm. People can get help through the FEMA application on the phone or the line 1-800-621-3362, which will provide the person with the necessary help in an emergency.

Besides, depending on the outcome of the escape, some need food, water, and proper medical attention, and all these have to be provided. Here, one can apply at DisasterAssistance.gov, where they can get the fastest and most convenient way to get protection from wildfire.

Step 2: Keep the Document or Image of the Damaged Property

The next task for an individual is to take photographs and images of the damaged property, and that can include the home, business area, or other personal belongings like cars. A person can create a list of damaged items and check which products they can claim for insurance and what documents are needed.

If you’ve been affected by any of the fires and have a tax problem, get in touch with Leading Tax Group to determine your options and eligibility for tax relief. Call at (800) 900-4250 to get answers to all your queries from experts. Schedule an appointment with the experts to get the best guidance today.

Step 3: Start the Insurance Claim Process

Under the insurance claiming process, one needs to send the documents and images of a house getting damaged in a natural disaster and must look for the total cost that they can recover from the insurance. It includes the cost of temporary housing and also the damage that happened to the vehicle.

By gathering details on the process of claim settlement from the California Department of Insurance and also having a conversation with an insurance adjuster, one gets help to cover all the losses a person is facing in recent times.

Step 4: Know the Tax Assistance From Federal and State Levels

The taxpayers in that area have faced a serious tragedy, and for that, the California Franchise Tax Board (FTB) aims to provide tax relief programs to the victims of the Palisades fire. The Californian Governor Gavin Newsom claimed to protect the financial and material loss of the families and the policies will be amended to bring help to the communities.

The IRS has also provided the tax relief extension to October 15, 2025, and the state board is also aligning that for the individuals and businesses who have faced the tragedy. The Governor and the FTB Chairperson are all claiming to get the Major Disaster Declaration secured from the US president. Through that, eligible people can get major tax relief.

IRS also allows a person to claim fire losses under form 4684, and that can help a person to get deductions while filing the tax after the relief program.

Here, an individual can also get assistance from tax attorneys and accountants who can help the individual or a business owner get the maximum tax rebate and also the due time for tax relief that they need to rebuild their home or business operations.

These are some of the ways through which one can recoup from their financial and material losses and build back stronger from this massive setback.

If you’ve been affected by the Palisades Fire, take the first step toward recovery today. Visit www.LeadingTaxGroup.com or call us at (800) 900-4250 for immediate help. You can also write to us at info@LeadingTaxGroup.com.