Business disaster resources

How we continue through hurricanes, wildfires, and tornadoes

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It’s a long and winding road

As I write this, we are still discovering the extent of Hurricane Helene’s devastation on the Southeastern US. If you are impacted, I’m sorry, this really sucks, and below are business-specific relief resources. 

For all of us as business owners, take this moment as an opportunity to review your climate-related disaster preparedness. 

Amidst this disaster, your 2023 tax extension is probably the furthest thing from your mind. Individuals and business owners who have not yet filed can get no-penalty postponement for filing and/or payment before October 15. Follow these steps:

  • Call the Disaster Hotline at 866-562-5227

  • Explain your necessary records are located in a covered disaster area

  • Provide the FEMA disaster number of the area 

If you are unable to make this call yourself, a designated tax agent like your accountant can make it on your behalf. Similarly, you can request postponement if your accountant is impacted. 

Note, all recently declared disaster areas are eligible for these postponements, including those impacted by wildfires, winter storms, and tornadoes. Search here for current FEMA federal disaster declarations. The list includes California, Oregon, Wyoming, New Mexico, Colorado, and Nevada wildfires, Nebraska, Illinois, and Kansas tornadoes, Vermont landslides, and New York and Louisiana tropical storms.

FEMA resources are available at disasterassistance.gov. Specific to Western North Carolina, this Google Sheet is being locally crowdsourced with resources available by town and county.

The SBA has a Helene resource page for business owners (including vacation and rental property owners), which includes online application for emergency disaster and business relief loans. Beyond Helene, these resources are available in all federally-declared disaster relief areas

For homeowners and renters, the SBA offers a home disaster loan of up to $500,000 to homeowners and $100,000 to renters to repair or replace real estate and personal property, including vehicles. This can include refinancing your mortgage if you aren’t eligible through traditional lending, which is entirely possible if you’ve become self-employed since you purchased your home.

While flood damage is often excluded by insurance, business interruption may be covered through your general or commercial liability policy. Interruption can apply even if you’re open, should local conditions like a curfew, downed power lines, or emergency road closures limit your ability to operate. If you work from a home office, your business policies may include coverages beyond those typically available in residential policies. If you have concerns about your coverage for unexpected events, this is a good time to have a review with your insurance agent or broker.

For your equipment, AppleCare+ covers some incidences of water damage with a deductible payment of $299. Best Buy may offer you a replacement discount if your electronics were covered by their Protection Plan. Your cell phone carrier may apply the lost or stolen phone policy to a replacement. If you have specialized equipment or inventory, consider commercial coverage specific to replacement. 

And a final non-business note: in North Carolina, voter ID requirements are waived if you experience a natural disaster within 100 days of the election. 

What do you read most often? “I never thought it would happen here.” The SBA reports that 25% of small businesses never reopen after a natural disaster. FEMA lists 2024 federally-declared disasters across almost half of US states. While we plan for the best, we also need some backup, just in case. 

If you have local support resources to share, please email me and I will include them in the next newsletter. Be safe out there.

October dates to know

Rolling dates - Minnesota and South Dakota opened their polls 46 days early, but most states will offer in-person early voting in the 10-15 days before November 5. Check your state availability here. 

October 2-3 - The Jewish new year (Rosh Hashanah) is observed from sundown on October 2, beginning the high holiday month. Depending on your location, schools and businesses may be closed in observance.

October 9 - my October AMA is moving up by a day to Wednesday, October 9 at 10 AM Pacific. Have a question for me? Submit it here or hit reply and drop it into an email. 

October 15 - individual and sole proprietor 2023 tax filing extension deadline. The exception: if you are impacted by Hurricane Helene or another federally-declared disaster. See above.

October 16 - To support your benefits design and open enrollment decisions, my 2025 small business guide to health insurance will be updated and posted on the blog. If you’re getting organized, here’s the 2024 guide as a reference. Open enrollment on Healthcare.gov starts November 1. I’ll be hosting a special live event in November specific to health insurance -- look for those details soon.

October 21 - my annual 10 Weeks to Close series begins, supporting you in benefits renewals and healthcare open enrollment, 2024 tax readiness, S-corp compliance, 2025 policy adjustments, and retirement savings. We’ll kick off with a downloadable checklist to help you get organized.

October 31 - happy Halloween. If you’re trying to get that one last deal in, keep in mind, many offices will close early on the 31st.

Media Kit 

Avalara: Need a refresh on applicable sales taxes for software, SaaS, and digital products? Join Avalara’s free training on Tuesday, October 8. 

NBC News: Think all your blue bin plastics find a future as cozy athleisure wear? We’re about to find out. California is suing ExxonMobil for lying to consumers about the recyclability of single-use plastics. The state claims that Exxon and Mobil created false advertising campaigns about the recyclability of a variety of plastics to encourage consumption. If California wins, the funds will be used for pollution clean-up projects.

Thanks for reading! Have a topic in mind? Thoughts on today’s newsletter? Hit reply or email me at [email protected].