Morton S. Winer, CPA

 

9933 North Lawler Avenue, Suite 410

Skokie, IL 60077

 

Phone: 847-676-8900

 

Website: www.msw-cpa.com

July 2022

Disaster Preparedness

Disaster Preparedness

With hurricane and severe weather season in full swing, be sure to have an accurate inventory of your property and an action plan.


TAKE INVENTORY
Start by going through your home room-by-room and document everything in it. Record when you purchased the items, the prices and approximate fair market value. Using best guesses is okay. You can use a spreadsheet or choose one of many home inventory apps that are available. They allow a photo and information for each item in list form.
Take pictures of your items or a video of each room to help document your property. Save the photos offsite or in the cloud.


TAXES AND INSURANCE
If you incur a disaster-related loss, take photos of all damaged property. This will help you to get a fair settlement from your insurance company. Also, if the loss occurred in a nationally declared disaster area, you may qualify for a tax deduction.


MAKE A PLAN
The website: https://www.ready.gov and some apps provide actionable plans for each type of emergency to help you prepare for the worst.


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