John Trapani, CPA is a seasoned tax professional with more than 5 decades of experience helping individuals, families, and fellow advisors navigate complex tax issues.
For the past 32 years, John’s firm has focused on the particular issues related to reporting the income tax consequences of disaster-related tax matters. His firm focuses on the tax implications of catastrophic losses, including casualty loss reporting and involuntary conversion reporting. Gathering organizing and reporting proceeds received from all sources, determining cost basis and replacement property considerations following fires, floods, earthquakes, and other disasters is the specialty of the firm.
John brings a practical, steady approach to tax guidance to clients who have experienced a major disaster, recognizing that financial decisions after a loss are often made under significant stress and uncertainty. he provides consulting and educational support to other tax professionals and advocates, helping translate technical tax rules into clear, actionable guidance. His long-standing support of United Policyholders reflects a shared commitment to helping disaster survivors protect their financial footing as they recover and rebuild.
John is honored to be part of the UP Ask the Expert panel for many years.
If a survivor of the 2025 Great Palisades Fire insured with State Farm declines to prepare a list of lost personal property due to psychological trauma associated with the task, what is the appropriate way to proceed with the claim? State Farm has already advanced…
We have a smoke-damaged house from the Eaton Fire that is currently in a legal dispute with our insurance company over remediation down to the studs. After watching UP’s webinar on taxation, it’s clear there are significant complexities involving multiple parties (insurance, SCE, etc.). I…
Hello Everyone, We had a rental property burn down-total loss. Insurance payment exceeded basis. I have heard conflicting information on how to offset the gain-anyone with expertise on 1033s questions below? -I first understood that you could reinvest the gain in like property as an…
My question is about a rental property, if the homeowner chooses to buy a replacement property instead of rebuild. What is the tax consequence if the homeowner is not able to sell the land (where the fire disaster was) before the expiration of the replacement…
