WHEN DISASTER STRIKES: PART III

Tip 3: Document Your Valuables and Business Equipment

Keeping a documented record of your valuables and business equipment will help with insurance and casualty loss claims in the event of a disaster.   For larger and more valuable belongings and office equipment you may want to take photographs or make a video tape of your belongings and store the photos or video tape in an offsite location.  Additionally, the IRS offers disaster loss workbooks for both individuals and businesses to help document this information and compile a room-by-room list of your belongings and equipment.  To find the IRS workbooks, follow these links:

• Individual Casualty, Disaster and Theft Loss Workbook – IRS – Individual
• Business Casualty, Disaster and Theft Loss Workbook – IRS – Business

Jordan Nellé, CPA
Davis & Hodgdon Associates, CPAs
September 2011