Resources

California Wildfire Resource Guide: Financial Recovery & Assistance

Provided by The Onyx CPA Team 

The recent wildfires in Los Angeles have touched so many lives. To support our clients and community, we’ve gathered some essential resources to help you navigate recovery, financial assistance, tax relief, and insurance claims. You’re not alone.

Real-time Alerts 

Wildfire Recovery in California

Recovering from a wildfire involves many steps, from ensuring safety to rebuilding. These resources can help:

  • Los Angeles County Disaster Recovery Toolkit (DCBA Toolkit): A guide to navigating post-disaster challenges, including financial and legal assistance.

  • LA City Emergency Management Department (Recovery Resources): Information on rebuilding, housing, and emergency aid programs.

Financial Assistance

Financial relief is available through government programs and private organizations.

  • Federal Emergency Management Agency (FEMA): Offers disaster relief funds and housing assistance. Visit www.fema.gov.

  • Small Business Administration (SBA) Disaster Loans: Low-interest loans for homeowners, renters, and businesses affected by wildfires. More info at www.sba.gov.

  • California Disaster Assistance Programs: Check state-specific financial aid options at www.cdss.ca.gov.

Tax Relief

Wildfire victims may qualify for tax relief, including deadline extensions and deductions for disaster losses.

  • IRS Disaster Tax Relief: The IRS may provide deadline extensions and deductions for disaster-related losses—more details at www.irs.gov.

  • California Franchise Tax Board (FTB) Relief: State tax relief for wildfire victims. Learn more at www.ftb.ca.gov.

  • Claiming Disaster Losses: If you’ve suffered property losses, you may be able to deduct them on your federal and state tax returns. Consult with a tax professional for guidance.

  • Business License Relief: Businesses in zip codes 90049, 90272, and 90402 get an automatic tax filing extension until April 14, 2025, with no form required.

Businesses in other areas impacted by wildfires must submit a form for an extension. (Wildfire Extension Request)

Insurance Claims

Navigating insurance claims after a wildfire can be complex. These resources can help streamline the process:

  • CA Moratorium on Policy Cancellations and Non-Renewals 

    • Government Emergency Response – Governor Gavin Newsom declared a state of emergency in Los Angeles and Ventura counties, followed by President Biden’s Major Disaster Declaration to support wildfire response and recovery efforts.

    • Insurance Protections for Homeowners – California law mandates that insurers cannot cancel or refuse to renew policies in fire-affected areas for one year, must offer policy renewals for at least 24 months after a total loss, and provide a 60-day grace period for premium payments.

    • Request for Additional Insurance Support – The Insurance Commissioner is urging all property insurers to pause pending nonrenewals and cancellations for at least six months from January 7, 2025, to help affected homeowners focus on recovery and rebuilding.

  • California Department of Insurance (CDI): Provides consumer assistance for claims and disputes.

    • Understanding Your Policy: Review your homeowners or business insurance policy to understand coverage for wildfire-related damage.

    • Working with Adjusters: Keep records of all communications and document damages thoroughly to ensure a smoother claims process.

Emotional & Community Support

Recovering from a wildfire is a long journey, and feeling overwhelmed is completely normal. If you're struggling, know that support is available. See the resources below for additional ways you can support yourself and others during this time:

Resources for Parents and Children:

Need Assistance?

If you need personalized financial guidance during wildfire recovery, our team is here to help.

Contact us for support navigating relief programs, tax filings, and financial planning during this challenging time.