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LA Fires
Mar. 11, 2025
The Law of Rebuilding LA Episode 15: Ownership structures and tax benefits
Tax expert Robert Wood explains how different property ownership arrangements impact eligibility for federal disaster tax relief, with crucial distinctions between "disregarded entities" and separately taxed entities.
In this episode of The Law of Rebuilding LA, Daily Journal Contributing Editor Howard Miller continues his conversation with tax expert Robert Wood, focusing on how property ownership structure affects disaster tax benefits.
Miller and Wood cover:
- How the federal tax exclusion applies only to "individuals" receiving wildfire recovery funds
- Various common property ownership structures and their different tax treatment under the new disaster relief legislation
- Practical considerations for family-owned properties, vacation homes, and agricultural lands with multiple ownership interests
- The importance of considering disaster tax implications during estate planning
Missed an episode of The Law of Rebuilding LA? Catch up here.
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