One of the best ways to manage the aftermath of a natural disaster is to plan ahead. If you live in a high-risk area, you can take steps to alleviate tax and financial issues after the disaster strikes.
Follow these three tips:
- Check your homeowners or renters insurance for natural disaster coverage.
- Create an inventory of your assets, including your home, vehicles and other property.
- Back up your important files and documents and keep them in a different location.
Don’t forget – call your insurance company and your Beene Garter professional if you have questions about claims, as well as the casualty loss deduction.
Have questions about taxes and natural disasters? Let’s talk!