This year many natural disasters have occurred around the world & we never know when the next one will take place.

Often, they take place with little or no warning. 

It is best to be prepared for the worst! 

Here are a few tips to prepare yourself or your business for a natural disaster: 

  • Keep your emergency plans updated & family members (for your home) or employees (if you own a business) informed. 
    • The safety of employees, clients, customers or your family is by far the most important factor. Have an evacuation plan in place for all different situations. 
  • Create electronic copies of all files & documents. 
    • Remember to perform updates & backups on computers & programs too. 
    • Turn original documents into electronic copies as well, or make extra copies and store them elsewhere in water/fireproof containers. Also, keep an extra set of keys. 
  • Record & document your valuables for insurance purposes. 
    • Take photos & keep a room-by-room list of valuable items in your home or business. 
  • Utilize the IRS for help.
    • They have different resources, such as a helpline related to disaster-related issues & they give tax relief in disaster situations. 
  • Keep supplies stocked. 
    • This means to have a disaster or emergency supply kit on hand, as well as having enough business supplies to keep your business running in case of an emergency. 
  • If you’re an employer, check for fiduciary bonds. 
    • If you use a payroll service, ask the provider if a fiduciary bond is in place because this bond could protect you in the event of default by the payroll service provider. You can create an account where you can monitor payroll tax deposits & get alerts as well.