Below are resources that may provide guidance as you work to assist your employees and rebuild your businesses. If you have questions regarding these matters or are in need of support, please contact us.
- Disaster Recovery Resources Guide: Unfortunately, there is no roadmap for recovery. However, through our experience recovering from multiple natural disasters, P&N has put together some resources and ideas businesses and firms might find helpful in their own recovery. These resources are certainly not exhaustive, but we know all too well that in the early stages of responding to disasters, you often struggle to decide which steps to take first. Read more...
- Employee Leave Sharing: There are several different approaches that employers and employees can take with respect to leave sharing programs in the wake of a natural disaster. This article discusses standard leave sharing programs that employers may wish to set up. Read more...
- Casualty Losses: While taxpayers are normally required to take a deduction for casualty loss such as that relating to a natural disaster in the year the loss was incurred, taxpayers can elect to take the deduction for the taxable year immediately preceding the year of the loss for losses occurring as a result of and in a federally declared disaster area. Read more...
- Employer Sponsored Disaster Relief Benefits: Before establishing employee disaster benefits, employers should understand the tax consequences to both employees and employers as a result of employer contributions. This article outlines ways that employers are able to provide disaster relief to employees. Read more...
- Business Insurance Coverage: In the aftermath of a disaster, many residents and business owners will be looking at insurance coverage options as part of their recovery plans. Although flooding is excluded under many policies, it is critical for policy holders to review coverage with their insurance agent or other professional advisors to determine if coverage exists (e.g. separate flood policies, specialized coverage, comprehensive coverage on vehicles). If coverage is available, properly preparing and documenting a claim is crucial to timely recovery, and locating key business records such as insurance policies, financial data, asset listings, and other relevant information is a priority.
- Natural Disaster Claim Refund Tax Form (LA): You can click here for the Natural Disaster Claim for Refund of State Sales Tax Form R-1362. The Louisiana Department of Revenue has also provided instructions for completing Forms R-1362, R-1362D and R-1362S here.
- Houston Disaster Recovery
- City of Houston Emergency Information
- Harris County Office of Homeland Security and Emergency Management Portal
- Local Road Conditions – Houston Transtar
- State Road Conditions – Drive Texas
- Disaster Assistance Portal
- FEMA Assistance
- FEMA – What to do if your business is damaged
- U.S. Small Business Administration (SBA) Disaster Loans
- Hurricane Harvey SBA Declaration Info
- National Small Business Association Disaster Relief
- IRS Tax Relief for Victims of Hurricane Harvey
- TSCPA Hurricane Harvey Assistance: Check out additional disaster recovery resources from The Texas Society of Certified Public Accountants (TSCPA), click here.
- LCPA Disaster Recovery Page: The The Society of Louisiana Certified Public Accountants (LCPA) has put together a comprehensive Disaster Recovery Resource page.