After the storm: Reconstructing individual records
In the wake of severe storms or other natural disasters, the cleanup can be a monumental task. One of the most important tasks to be undertaken is reconstructing financial records that were lost for insurance reimbursement or to get federal disaster assistance. The following are steps you can take after a disaster to reconstruct these […]
Congress mulls bill to provide tax relief after natural disasters
The spring tornado season is here, and in some places in the country, has descended with force. The months of April and May have seen more than 500 tornadoes in a 30-day period, according reports from federal government weather forecasters in The New York Times. The violent storms stretched from eastern Colorado and New Mexico […]
Disaster relief payments help employees and can save taxes
In the aftermath of Hurricanes Florence and Michael this fall, employers are asking how they can help their employees during these difficult times. One option that employers have is to make disaster relief payments to their employees. A disaster relief payment is any amount paid to or for the benefit of an individual to reimburse […]
Hurricane Michael victims have more time to file some tax returns
Taxpayers in parts of Florida and south Georgia have been given more time to file some tax returns as a result of Hurricane Michael that hit the Florida panhandle earlier in October. The IRS has announced that certain counties in Florida and Georgia designated by the Federal Emergency Management Agency (FEMA) as federal disaster areas […]
Beware of fake charities scams in wake of Hurricane Florence
When disaster strikes, many people feel moved to help their fellow citizens – either by physically pitching in to help with cleanup or by donating to various charities that can help distribute needed resources. Unfortunately, there are opportunists who see these circumstances as fertile ground for making a quick buck by exploiting peoples’ goodwill and […]
Prepare your business now ahead of Hurricane Florence
Millions are preparing for Hurricane Florence, which is scheduled to strike the coasts of North Carolina and South Carolina in the coming days. But what happens after the storm? While no one can control the path and strength of the storm, as a business owner, you can take some steps now that will make it […]
Update your emergency plan before the storm hits
As cool days give way to warmer temperatures, the environment is ripe for hurricanes, tornadoes and other strong storms. While there’s not much that can be done to prevent natural disasters from occurring, business owners can take steps ahead of time to create or update their emergency plans and protect their most valuable documents and […]
Tax deadline extended for victims of Hurricanes Harvey and Irma
Back-to-back hurricanes in the last few weeks have left much of the Southeast and Texas devastated, but the IRS is giving victims of these storms extra time to file tax returns. Taxpayers in those areas affected by Hurricanes Harvey and Irma that have been declared federal disaster areas are eligible for the extension of time. Taxpayers […]
Tax deductions can be silver lining behind storm clouds
The Southeast was plagued in 2016 and at the beginning of 2017 with natural disasters that resulted in the loss of business and property. Hurricane Matthew struck the East Coast in early October, impacting the coasts of Florida, Georgia, South Carolina and North Carolina. Throughout November, wildfires raged in North Carolina and in north Georgia. […]