We recently announced a partnership with the ASBDC to provide over 1 million entrepreneurs with on-demand access to professional tax and financial services online. Many of these small businesses are now struggling because of the unprecedented damage caused by Hurricane Sandy. As such we’re going to be allocating resources to help those small businesses impacted by the storm.
Tax and financial issues impacting Hurricane Sandy victims
Hurricane Sandy was a major blow for several homeowners and businesses. The losses are unprecedented for the region and will trigger an excessive number of insurance claims. It’s important to understand the tax ramifications, if any, for receiving an insurance settlement on a claim. read more.
Getting Your Hurricane Sandy Insurance Claims Paid Quickly
Contrary to Hurricane Irene, Sandy left the Mid-Atlantic states with catastrophic damage. The areas hit the worst include New Jersey, New York & Connecticut. Initial estimates indicate that the total damages could exceed $50 billion, which would rank among the second costliest storms in U.S. history; behind Hurricane Katrina. Given the significant loss, many affected families are going to be submitting insurance claims very shortly, if they haven’t already done so. What can you do to increase the chances that your claim is paid quickly? read more.
IRS Extends Tax Deadlines For Hurricane Sandy Victims
The IRS has shown some compassion for Hurricane Sandy victims. They’ve extended a few tax deadlines that impact businesses and may provide greater relief in the future. read more.
Storm Victims Need To Be Aware Of Hurricane Deductibles
Most homeowners with an insurance policy are aware that they have to meet their deductible before the insurance company will cover any damage. However, few are aware that insurance policies include a separate provision for hurricanes. What does this mean for those affected by Sandy? read more.
More Questions? Browse answers or ask Hurricane Sandy business tax questions online.
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