May 15, 2018

Disasters: Are you prepared in the event of a disaster?

Disaster Planning.


I've posted before about the importance of planning for disasters:  earthquakes, floods, fires, hurricanes, you name it.  And don't forget the important of including your pets in disaster planning, too.

The IRS recently published a new Tax Tip Bulletin about Disaster Planning, including the importance of having emergency plans, documenting valuables, and creating electronic versions (stored in a secure location) of important  paper documents.

The  bulletin also includes a downloadable Disaster Loss Workbook to help you compile a room-by-room list of belongings.   And I agree with the IRS:  take photographs or video of belongings.  This visual evidence can help authenticate the fair market value of items for insurance and casualty loss claims.  And, of course, don't forget to keep the photos and videos in a secure location.

Click here to read this helpful Disaster Planning Bulletin and download the Disaster Loss Workbook.

Stay safe and be prepared, everyone.

About Mary Rae Fouts, EA

Mary Rae Fouts, EA provides tax, insurance consulting, and expert witness services to clients who have technical or complex concerns.  For more information about Mary and her professional services visit FoutsFinancialGroup.com.

Mary Rae Fouts

1 comment:

  1. Have you tried giving honey to Lexi that may make her not allergic to bee stings. Works on humans.

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