SEPTEMBER 2019
Welcome to this month's edition of the Tax and Business Alert. Our goal is to provide you with current articles on various tax and business topics. The articles are intended to keep you up to date on trends and issues that may impact your business and personal financial affairs.  Please contact us if you have questions about any of the issues discussed.

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4 TYPES OF INFORMATION YOU NEED TO PREPARE FOR DISASTER
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hen you read the phrase “disaster prep,” you may envision bottled water and boarded-up windows. But information is also a critical asset to have following a natural or manmade catastrophe. Here are four specific types of information you need:

1.      Personal identification records. These documents will enable you to prove the identity of your family members, maintain contact with relatives and employers, and apply for disaster assistance from the Federal Emergency Management Agency (if necessary) after a disaster. These records include driver’s licenses, birth certificates, marriage and divorce licenses, passports, and Social Security cards.

2.      Financial and legal documentation. This category includes documents related to financial accounts, insurance policies, your estate (for example, your last will and testament), and your tax and ongoing financial obligations, such as your mortgage, car payments and credit cards. You will still be responsible for these obligations after a disaster, so make sure you can access these documents easily.

3.      Medical information. This includes the names and contact information for your doctors, copies of health insurance policies and identification cards, immunization records, a list of medications you take, and copies of current prescriptions. Such information could be crucial in the immediate aftermath of a disaster.

4.      Important financial contacts. There may be several different professional advisors you’ll want to contact as soon as possible quickly following a catastrophe. They likely include your insurance agent, attorney, CPA, bank representative and investment advisor. Store their contact information in your mobile phone or, better yet, in a cloud data storage server so you can access it from anywhere.




Important Information: The information contained in this newsletter was not intended or written to be used and cannot be used for the purpose of (1) avoiding tax—related penalties prescribed by the Internal Revenue Code or (2) promoting or marketing any tax—related matter addressed herein.

The Tax and Business Alert is designed to provide accurate information regarding the subject matter covered. However, before completing any significant transactions based on the information contained herein, please contact us for advice on how the information applies in your specific situation. Tax and Business Alert is a trademark used herein under license. © Copyright 2019.