If a disaster hit your business, would you be ready? It is a question every business owner should be able to say "Yes!" to. Learn how to protect your business records from a disaster, how to plan for a disaster, how to get tax deductions for disaster cleanup, repairs, and other expenses, how to restore those records after a disaster, and how to get post-disaster financial assistance from the SBA.
Tips on protecting business records so they are safe in case of a disaster, including online backup, physical record safety, and off-site backup.
The Small Business Administration has some suggestions to help you prepare for a disaster before it strikes your business, including gathering a survival kit, protecting business records, alerting employees of a disaster, and keeping in contact.
Part of your disaster plan should be a business appraisal or valuation, so you can substantiate the value of your business and its assets before the disaster. If you have an appraisal in hand, it will make proving your disaster losses much easier.
This article discusses the forms you need to prove business asset losses to the IRS and
Learn about the kinds of business losses that result from disasters can you deduct from your business tax return.
The National Disaster Relief Act of 2008 can provide your business with increased tax deductions for disaster losses.
This article describes the types of disaster assistance available from FEMA (the Federal Emergency Management Administration) and the Small Business Administration.