August 2019 Q & A

Question:

I’m a small business owner and a storm damaged my home, which included my home business. How do I pay my estimated taxes when my paper records and computer were destroyed?

Answer:

We’re sorry to hear about the storm damage. Start, of course, by talking to your tax professional, who may have copies of some records you will need. Most newer computer programs include a cloud backup of word processing and spreadsheet files, so you could find some needed records there. Finally, for a copy of old tax records, go to www.IRS.gov and use the Get Transcript application.

Question:

My home was damaged by severe floods. Where can I learn if I am eligible for financial aid as I begin the recovery process?

Answer:

Start by going to www.disasterassistance.gov to learn if your region qualifies for federal disaster assistance. The website has a variety of resources, including contact information for local help.

Your state should also have an emergency management department and your community may have resources to help. Also look toward organizations like the American Red Cross for help, and check with the Federal Emergency Management Agency at www.fema.gov, where you may identify emergency shelters and longer-term rentals if you can’t return home.