Frequently Asked Questions

For most individual taxpayers, the original deadline is April 15 (or the next business day if it falls on a weekend or holiday). Partnerships and S-corporations are due March 15. C-corporations are due April 15.

An extension gives you until October 15 to file your return (September 15 for partnerships/S-corps).

Important: An extension does NOT extend the time to pay. If you expect to owe taxes, you should estimate and pay by the original deadline to avoid penalties and interest.

You’ll need:

• The type of casualty and date it occurred
• Proof that you owned the property (or were contractually liable for damage as a lessee)
• Documentation that a claim for reimbursement exists where there’s reasonable expectation of recovery
• Evidence to support the loss amount (photos, appraisals, receipts, insurance documents)

Start with what you can recover:

• Contact financial institutions for duplicate statements
• Request W-2 copies from employers (or the IRS using Form 4506-T)
• Obtain property records from the county assessor
• Request prior year returns from the IRS

Insurance inventories and photos from before the loss are invaluable. We’ve helped many Sonoma County clients through this process.

Create a room-by-room inventory listing items, their original cost, and estimated value at time of loss. Photos, videos, and receipts help substantiate values.

Check if your homeowner’s insurance company has your prior inventory. For valuable items, appraisals or purchase receipts are important.

Gather your original purchase documents (closing statement, deed), records of improvements made over time, insurance appraisals, property tax assessments, and if possible, a post-loss appraisal.

Your adjusted basis (original cost plus improvements) matters for calculating the loss.

For 2026, the IRS limits are:

• 401(k)/403(b): $24,500 ($32,500 if age 50+; $35,750 if ages 60-63)
• IRA (Traditional or Roth): $7,500 ($8,600 if age 50+)
• SEP IRA: Up to 25% of compensation, maximum $72,000
• SIMPLE IRA: $17,000 ($21,000 if age 50+)

We help clients maximize these opportunities.

RMDs require you to withdraw minimum amounts from traditional IRAs and retirement plans starting at age 73 (or age 75 if born in 1960 or later).

The penalty for missing an RMD is 25% of the amount you should have withdrawn. We track RMDs for our clients and remind you before deadlines.

A federal estate tax return (Form 706) is required if the gross estate exceeds $15 million (2026). For married couples, the combined exemption is $30 million.

Many estates file “portability” returns to preserve the deceased spouse’s unused exemption, even if no tax is due. California has no state estate tax.

We make the transition simple: we’ll send you a secure link to upload your most recent tax returns (typically 2-3 years of PDFs). If your previous firm used professional software, they can provide backup files that we can import.

No need for you to contact them—we handle everything once you authorize us.

First, we’ll have a conversation to understand your situation, goals, and any immediate concerns. Then we’ll gather your prior returns and documents through our secure portal.

For tax preparation, we’ll send you our organizer to complete. For advisory services, we’ll propose a scope of work. Throughout, you’ll have a dedicated team member as your point of contact.

We price based on complexity, not hours spent. Before starting any engagement, we’ll provide a clear estimate so there are no surprises.

Tax preparation fees vary based on the number of forms, entities, and states involved. Advisory services are typically project-based or fixed monthly retainers.