Prepare for Disaster by Safeguarding Important Records

With the recent events in Oklahoma, which in my mind is more specifically a series of tragedies, I couldn’t help but think not only of the families whose homes were destroyed but also of the business owners whose businesses were destroyed or damaged.  The terrible

devastation they have experienced through multiple incidents covering entire areas is nearly unfathomable for those who have not lived through something of that nature.  Many wonder where you begin to pick up those pieces to move forward.

Here in the Pacific Northwest we are fortunate to not have “Hurricane or Tornado Season” to worry about but we do have and will have our fair share of natural disasters that sometimes come in the form of a freak funnel cloud or more often flooding or strong wind storms among other things, and we must include disasters like fire.  I felt this was a good time for a reminder that individuals and businesses should safeguard themselves against any and all disasters by taking a few simple steps.  The IRS suggests the following steps to protect our important information.

Create a Backup Set of Records Electronically

Business owners and individuals should keep a set of backup records in a safe place. The backup should be stored away from the original set.

Keeping a backup set of records –– including, for example, bank statements, tax returns, insurance policies, etc. –– is easier now that many financial institutions provide statements and documents electronically, and much financial information is available on the Internet. Even if the original records are provided only on paper, they can be scanned into an electronic format. With documents in electronic form, taxpayers can download them to a backup storage device, like an external hard drive, or burn them to a CD or DVD.

Document Valuables

Another step a taxpayer can take to prepare for disaster is to photograph or videotape the contents of his or her home, especially items of higher value. The IRS has a disaster loss workbook, Publication 584, which can help taxpayers compile a room-by-room list of belongings.

A photographic record can help an individual prove the market value of items for insurance and casualty loss claims. Photos should be stored with a friend or family member who lives outside the area.

 
Update Emergency Plans

Emergency plans should be reviewed annually. Personal and business situations change

Emergency Preparedness

over time as do preparedness needs. When employers hire new employees or when a company or organization changes functions, plans should be updated accordingly and employees should be informed of the changes.

I certainly wish that this type of preparation wasn’t needed.  But in the event that a natural disaster strikes not only individuals need to have access to their important information,  it is crucial for a business to get up and running as soon as possible to get employees back to work.  Just think how important it is, in an area that has seen a natural event devastate their town, for the community to see the representation of life moving forward by having open businesses and jobs to go to.

Follow the example of the Boy Scouts and “Be Prepared”. 

Information and Solutions from Complete Business Solutions.