LA Fires
Mar. 6, 2025
The Law of Rebuilding LA Episode 12: Tax implications of other insurance recoveries
Tax expert Robert Wood explains how different types of insurance recoveries are taxed after a disaster, from personal property claims to cash-out settlements.
In today's episode of The Law of Rebuilding LA, Daily Journal Contributing Editor Howard Miller continues his conversation with tax expert Robert Wood, discussing the tax implications of various insurance recoveries following a disaster.
After focusing on dwelling-related recoveries yesterday, Miller and Wood cover:
- Tax treatment of personal property coverage
- How additional living expenses are taxed
- Implications of cash-out settlements
- Timing considerations for multi-year recoveries
- Challenges with subsequent litigation recoveries
Missed an episode of The Law of Rebuilding LA? Catch up here.
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