GORDON H. ZiNK CPA BLOG

Blog Home
Welcome to the ZiNKCPA.com BLOG. Check this section for interesting information regarding, our company, taxes, the IRS or general accounting.  If you have further questions regarding any of our blog topics and would like to discuss further please send us an email to accounting@zinkcpa.com.

6 Tips To Safeguard Valuables

6/9/2015

Hurricane Season: 6 Tips To Safeguard Valuables

checklist

June 1st marked the beginning of hurricane season for all of us in Southwest Florida. Even though the forecasters have predicted the season will be a mild one, that doesn't exclude us from dangerous storms or from taking any and all precautions to be prepared!

 

Not only is it necessary to protect your home and family from harm, it is also important to protect your business & personal documents, paperwork and electronic records from being destroyed. Safeguarding your financial records should be a part of your overall emergency plan. This is one way to help maintain peace of mind in the aftermath of a tropical storm or hurricane.

 

Along with the IRS, here are a few tips we have prepared to help you protect documents that you never want to lose.

  1. Consider Renting a Safe Deposit Box From Your Bank
    According to the FDIC, vaults that house safe deposit boxes are made to resist explosions, fire, floods and heat. Keep a list of what you have inside.
  2. Create an Electronic Additional Set of Records
    A duplicate set of important documents and records should be stored in a safe place away from the original set. We suggest that you scan documents to an external hard drive, USB flash drive, burn to CD, or save to the cloud.
  3. Document Valuables
    The IRS recommends photographing or videotaping all home contents. Through these records, fair values can more easily be established for insurance and casualty loss claims. It is important that the photographs and video be stored at a different and safe location.
  4. Update Emergency Plans
    Emergency plans should be reviewed annually. Business and personal situations change, when they do, so should the emergency plan. Make your plans in advance and practice them.
  5. Check on Fiduciary Bonds
    For those who use payroll services, you should inquire if they have a fiduciary bond in place. This bond would protect employers if the payroll service provider defaults.
  6. Check with your tax consulting team
    Your team of tax consultants at Gordon Zink CPA are here to assist with your check list of personal documents or other tax-related business.

Are You ReadyWith the help of these recommendations, we hope that we have made a difference in how you prepare for hurricane season.