Keeping Financial Records Safe During Hurricane Season

It’s that time of year again along the Gulf Coast…hurricane season.  Katrina taught us all to have plans made in advance for evacuation…it also taught us to have our records and important documents safely secured.  Here are 5 tips from the IRS to help protect your important records in case of a hurricane or natural disaster.

  • Back up records electronically on an external hard drive, CD or DVD.  Keep these in a safe place away from your originals. Include bank statements, tax returns, insurance policies and birth/death certificates on these backups.
  • Document valuables by taking pictures and/or videos.  The more visual documentation you have, the better off you will be when dealing with your insurance company if you would need to replace contents or valuables. This is so easy to do nowadays with your smartphone.
  • Update emergency plans.  Review your plan on a yearly basis and update them to meet your needs if you have had any personal or business related changes.
  • Get copies of tax returns or transcripts.  If you need these copies, contact your accountant or visit irs.gov and request a copy of your tax return transcript online.
  • Call the IRS if you  need to speak with a specialist trained to handle disaster-related tax issues.(  1-866-562-5227 )

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David W Huff, CPA, PFS, MS is a partner at Person CPA Group. He provides clients with tax preparation and consulting services, accounting services, retirement plan and benefit consulting, accounting software technical support and training, and management advisory services. His specialty is helping new businesses organize their operations to maximize tax savings and move quickly from start-up to profitability.  You can reach David by email at: david@personhuffcpa.com