Protecting records important during hurricane season, IRS advises

Protecting records important during hurricane season, IRS advises

June 29

In light of the beginning of hurricane season, the Internal Revenue Service (IRS) has recommended that individuals and businesses ensure that their financial records are kept safe in case of disaster. The advisory also notes that those preparing for potential disasters should protect their valuables and develop a disaster recovery plan, and that businesses look into fiduciary bonds to protect themselves from possible default by payroll services.

In additional to financial records and valuables, it is important for businesses to protect all of their vital data through backup and recovery software solutions. Protecting finances is useless if the company still suffers due to the loss of client and other business files that are vital to its operations. From natural disasters like hurricanes to system crashes due to overheating or power failure, data loss can occur in a variety of ways, so a reliable system is needed to ensure that a company is able to quickly and efficiently recover it.

However, in addition to its digital files, a company should also electronically back up its paperwork, from bank statements to insurance policies, as the IRS suggests. This ensures that not only is the company able to get back to work quickly, but also keep its finances in order when disaster strikes.