PLAN AHEAD: Tax prep BEFORE a hurricane!

I like to be an optimist, but I like to be a realist, too. - Tom Petty

Tax Preparation BEFORE a storm arrives!

When preparing for an oncoming hurricane, don't forget to think beyond batteries and boarding up!

Document valuables & equipment NOW!

Current photos or videos of a home or business's contents can help support claims for insurance or tax benefits after a disaster. All property, especially expensive and high value items, should be recorded. The IRS disaster-loss workbooks in Publication 584 can help individuals and businesses compile lists of belongings or business equipment or try our excel template:

TIP: It's a good idea to save a paper copy of this list in a fireproof safe, in a safe deposit box, or somewhere outside of your property.

Secure key documents & make copies

Taxpayers should place original documents such as tax returns, birth certificates, deeds, titles and insurance policies inside waterproof containers in a secure space. Duplicates of these documents should be kept with a trusted person outside the area of the taxpayer. Scanning them for backup storage on electronic media such as a flash drive is another option that provides security and portability.

TIP: Use your Tax Year 2 023 ShareFile folder to securely file digital copies of tax related information!

BUSINESS OWNER TAX TIP: Updating your Business Personal Property listing early is a great way to document your equipment in preparation for a hurricane. Be sure to have a digital backup (ideally offsite) of your up to date accounting file, bank statements and tax records prior to evacuation.

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