The IRS identified several steps that individuals and businesses should take as safeguards to protect themselves against losses from natural disasters. Many don’t think of planning for a natural disaster until it’s too late. Here is what the IRS recommends.
- Create an electronic set of backup records
- Document valuables with photographs or videotapes, stored safely offsite
- Keep an updated emergency plan on file, and, for businesses, a disaster recovery plan which outline what to do and how to resume operations after a natural disaster.
Taking these few basic steps will make getting things back in order after a natural disaster simpler and quicker.