The storms and wildfires during the last year are a good reminder that one of the best ways to manage the aftermath of a natural disaster is to plan ahead. If you live in a natural disaster high-risk area, you can take steps to alleviate tax and financial issues post-disaster by following these 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 us if you have questions about claims, as well as the casualty loss deduction.
Stay safe out there.
