Disaster Strikes!
Disaster can happen at any moment and has many different faces. The type of disaster you and your organization faces depends generally on your geographic location. Disaster can also be isolated to a location or industry. It seems that many of us do little to prepare ourselves for an emergency when things are going well. It is important to have a plan for you and your family.
Create a plan.
Starting any plan can be a daunting task. Resources such as http://www.ready.gov/business/ are specifically designed to help you develop your plan. Having a good plan in place can mean the difference of being back in business or closing forever.
What about your records?
Often they sit quietly not making a fuss over things, yet we rely on them greatly to do so much. It is important to realize that they too are susceptible, and without them we can experience severe heartache.
Recently the IRS posted an information release regarding the safeguarding of records. This can be found at http://www.irs.gov/newsroom/article/0,,id=239917,00.html . I would like to add a few thoughts regarding safeguarding your records.
I had a friend once tell that there are three main areas of concern when it comes to records:
- Water
- Fire
- Theft
If left unguarded any one of these can destroy your ability to retrieve vital information. While I don’t think this list is all inclusive, it can serve as a guide for discussion of what your disaster plan should include.
Ryan D. Smith, CPA, CVA, ABV is a Member and tax expert with Petersen CPAs and Advisors in Yakima, WA.
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