Fire Relief Info - Linkenheimer LLP CPAs & Advisors

Payments to Employees Affected by the Local Fires

During these tragic times businesses may want to help employees affected by the local fires. The purpose of the following information is to highlight some tax efficient opportunities to help employees affected by the local fires which were declared a qualified disaster by President Trump. IRC section 139 allow employers to provide qualified disaster relief payments to employees that have incurred unreimbursed expenses due to a qualified disaster (such as the local fires) and have those payments excluded from the employees gross income and included as deductible expense for the business making the payment. For the payments to be considered qualified disaster relief payments, they should be for either items i. or ii. below, but only to the extent not already covered by insurance.

Reasonable and necessary personal, family, living, or funeral expenses incurred as a result of a disaster. This would include expenses related to loss of use.
Reasonable and necessary expenses incurred for the repair or rehabilitation of a personal residence or repair or replacement of its contents to the extent that the need for such repair, rehabilitation, or replacement is attributable to a qualified disaster.

Other items to point out:

To […]

By Linkenheimer LLP|2020-09-03T20:04:51+00:00October 19th, 2017|business, Community, disaster, Fire Relief Info, relief, tax|0 Comments

Tax Relief for Victims of California Wildfires

As the local fires near containment and our community looks to band together in the rebuilding process, we wanted to send out a brief update the IRS released today providing an overview of the tax relief and extensions they are offering. We will continue to put out pertinent information as it becomes available. Over the next 24 hours, we will also provide a detailed guide related to tax relief for victims of the fires. If you have any questions, please feel free to call or email your Linkenheimer CPA.

The IRS has provided tax relief for the victims of wildfires affecting parts of California. Currently, the IRS is providing relief to seven California counties: Butte, Lake, Mendocino, Napa, Nevada, Sonoma, and Yuba. The tax relief postpones various tax filing and payment deadlines that occur starting on 10/8/17. Affected individuals and businesses now have until 1/31/18 to file returns and pay any taxes that are originally due during the relief period. This includes quarterly estimated tax payments, extended 2016 income tax returns, and quarterly payroll and excise tax returns. The IRS noted that tax payments related to 2016 individual tax returns were originally due […]

By Linkenheimer LLP|2020-09-03T20:04:51+00:00October 18th, 2017|Community, disaster, Fire Relief Info, irs, relief|0 Comments

Fire Recovery Business Resources and Comprehensive List of Links for Those Needing Help

With the fires still burning and information scattered in various spots, we wanted to try and provide our clients, friends and family a comprehensive list of resources that can be shared and referenced easily. Our thoughts and prayers are with all of you affected by this horrible disaster. We will continue to post new info as we get it and if you have any questions, feel free to contact us. Stay Safe.

Staying up to date or needing help:

For life-threatening emergencies, dial 911.

The County of Sonoma has county-wide information including shelters, evacuation areas and clinics.

The City of Santa Rosa has information specific to the Santa Rosa area including shelters and evacuation areas.

Please refer to local media such as KSRO.com (1350-AM or 103.5-FM), KZST.com (101.1-FM) or PressDemocrat.com.

Nixle keeps you up-to-date with relevant information from your local public safety departments. Sonoma County Sheriffs Office updates.

By Linkenheimer LLP|2020-09-03T20:04:52+00:00October 13th, 2017|Community, disaster, Fire Relief Info, relief|0 Comments

IRS Gives Tax Relief to Victims of California Wildfires; Extension Filers Have Until Jan. 31 to File

The following information is from the IRS:

Victims of wildfires ravaging parts of California now have until Jan. 31, 2018, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today.

This includes an additional filing extension for taxpayers with valid extensions that run out this coming Monday, Oct. 16.

Currently, the IRS is providing relief to seven California counties: Butte, Lake, Mendocino, Napa, Nevada, Sonoma and Yuba. Individuals and businesses in these localities, as well as firefighters and relief workers who live elsewhere, qualify for the extension. The agency will continue to closely monitor this disaster and may provide other relief to these and other affected localities.

The tax relief postpones various tax filing and payment deadlines that occurred starting on Oct. 8, 2017. As a result, affected individuals and businesses will have until Jan. 31, 2018, to file returns and pay any taxes originally due during this period.

This includes the Jan. 16, 2018 deadline for making quarterly estimated tax payments. For individual tax filers, it also includes 2016 income tax returns that received a tax-filing extension until Oct. 16, 2017. The IRS noted, however, that […]

By Linkenheimer LLP|2020-09-03T20:04:52+00:00October 13th, 2017|Community, disaster, Fire Relief Info, irs, relief|0 Comments

Resources for Evacuees and Those Affected by the Fires

FREE FOOD / WATER:
• Amy’s Drive Thru in Rohnert Park: offering free meals to those evacuated. If you choose to pay for a evacuees meal, 100% of that money will be donated to help in the aids effort. (10/10/17 3:30pm)
• Nopalito (10/10/17): offering free burritos from 11-3 (1905 Bodega Ave)
• McGuires is offering free food
• Mystic Theatre/McNears (10/10/17): Serving Breakfast 9-11, Serving Lunch-soup and sandwiches from 12-3, Serving Dinner from 5-8. They can deliver or make meals to go. Contact them directly at 707-765-2121
• Sauced BBQ Restaurant (10/10/17): Serving free food from 9-4, offering place to rest and view TV
• Sweet Zone (10/10/17): Offering free Gelato
• Quinua Restaurant (10/10/17): Offering free lunch
• Lagunitas, Tap Room (10/10/17): Giving away free water- bring containers and they will fill them
• Amy’s in RP is offering FREE food today- limited menu. All money donated there will be given to families in need.
• The Drawing Board (10/10/17): Offering food delivery to those in need, plus a special menu for firefighters and victims.

FREE WIFI / COMPUTERS:
• Comcast (10/10/17) FREE Internet/Comcast/Xfinity: Removed restrictions and opened their WiFi hotspots for all to use through Fri. 10/13 Log in as […]

By Linkenheimer LLP|2020-09-03T20:04:52+00:00October 13th, 2017|disaster, Fire Relief Info, relief|0 Comments