IRS Gives Taxpayers in Area Threatened by Ike Until Sept. 22 To File Corporate and Individual Estimated Taxes

What businesses should do now for business interruption insurance claims as a result of Hurricane Ike

Our thoughts and prayers go out to our clients, friends, relatives, and all others in the Gulf Coast region who have been impacted by Hurricane Ike. As the initial shock begins to wear off, many companies are looking to the future and determining the actions they need to restore the region’s economy and the livelihood of their employees.

Besides the substantial repair and clean-up costs, many business operations will be adversely affected for a protracted period of time, due to the realities of a lack of raw materials, a scarcity of experienced employees and interrupted sales and distribution chains, thereby causing a significant loss of revenues and future profits. Obviously, your first priority should always be the safety and security of you and your families, and your employees and their families.

In order to maximize a business’ ultimate recovery for business interruption losses, we advise our clients to create and maintain proper documentation with respect to the amount, timing and source of your losses.

UHY Advisors’ insurance professionals can provide valuable assistance in preparing your business insurance claims. We are objective consultants, with more than 35 years’ experience dealing with business interruption matters. By using a UHY Advisors’ professional to analyze and prepare your claims, you can focus on the numerous other issues facing your business in the aftermath of this disaster.

We can also advise business owners and managers on ways to be proactive and prepare for the effects of natural disasters. Our consultants work with our clients to maintain and preserve documentation evidencing all aspects of your business, including revenue history, costs of goods, inventory, customers, and suppliers. Our technology advisory group will also work with you to create sufficient backup information to make sure your valuable business information will be preserved, despite a catastrophic event such as Hurricane Ike.

Scope of services:

Calculations of losses and claim preparation
Documentation of repair/restoration costs
Policy review and compliance
Interface with your insurance company and managing the process
Helping avoid early mistakes that might hinder or reduce future recovery
Filing partial proofs of loss to secure cash advances

Whatever course you take, it is critical to take the right steps in the next few weeks to ensure you have taken all the right steps to maximize your claims. If you have any questions, or would like to meet with a UHY Advisors’ professional, contact:

Robert Lang, Principal
214.243.2903
rlang@uhy-us.com

or

Jeffrey Harfenist, Managing Director
713.407.3964
jharfenist@uhy-us.com

Disclaimers:

The above information is intended to assist you in processing your business interruption claims.

We do advise that you also consult with your attorney regarding possible legal issues.

UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of “UHY Advisors.” UHY Advisors, Inc. and its subsidiary entities offer services from offices across the United States. UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms.

UHY LLP is a licensed independent CPA firm that performs attest services.
UHY Advisors, Inc. and UHY LLP are independent U.S. members of Urbach Hacker Young International Limited.

Links For more information on business interruption losses, click here:
Business Insurance Claims Recovery & Robert Lang’s CV

FEMA
http://www.fema.gov/

Red Cross
www.redcross.org

Houston Chronicle
www.chron.com



What businesses should do now for business interruption insurance claims as a result of Hurricane Ike Our thoughts and prayers go out to our clients, friends, relatives, and all others in the Gulf Coast region who have been impacted by Hurricane Ike. As the initial shock begins to wear off, many companies are looking to the future and determining the actions they need to restore the region’s economy and the livelihood of their employees. Besides the substantial repair and clean-up costs, many business operations will be adversely affected for a protracted period of time, due to the realities of a lack of raw materials, a scarcity of experienced employees and interrupted sales and distribution chains, thereby causing a significant loss of revenues and future profits. Obviously, your first priority should always be the safety and security of you and your families, and your employees and their families. In order to maximize a business’ ultimate recovery for business interruption losses, we advise our clients to create and maintain proper documentation with respect to the amount, timing and source of your losses. UHY Advisors’ insurance professionals can provide valuable assistance in preparing your business insurance claims. We are objective consultants, with more than 35 years’ experience dealing with business interruption matters. By using a UHY Advisors’ professional to analyze and prepare your claims, you can focus on the numerous other issues facing your business in the aftermath of this disaster. We can also advise business owners and managers on ways to be proactive and prepare for the effects of natural disasters. Our consultants work with our clients to maintain and preserve documentation evidencing all aspects of your business, including revenue history, costs of goods, inventory, customers, and suppliers. Our technology advisory group will also work with you to create sufficient backup information to make sure your valuable business information will be preserved, despite a catastrophic event such as Hurricane Ike. Scope of services: Calculations of losses and claim preparation Documentation of repair/restoration costs Policy review and compliance Interface with your insurance company and managing the process Helping avoid early mistakes that might hinder or reduce future recovery Filing partial proofs of loss to secure cash advances Whatever course you take, it is critical to take the right steps in the next few weeks to ensure you have taken all the right steps to maximize your claims. If you have any questions, or would like to meet with a UHY Advisors’ professional, contact: Robert Lang, Principal 214.243.2903 rlang@uhy-us.com or Jeffrey Harfenist, Managing Director 713.407.3964 jharfenist@uhy-us.com Disclaimers: The above information is intended to assist you in processing your business interruption claims. We do advise that you also consult with your attorney regarding possible legal issues. UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of “UHY Advisors.” UHY Advisors, Inc. and its subsidiary entities offer services from offices across the United States. UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms. UHY LLP is a licensed independent CPA firm that performs attest services. UHY Advisors, Inc. and UHY LLP are independent U.S. members of Urbach Hacker Young International Limited. Links For more information on business interruption losses, click here: Business Insurance Claims Recovery & Robert Lang’s CV FEMA http://www.fema.gov/ Red Cross www.redcross.org Houston Chronicle www.chron.com	Key Questions in business interruption claims click to answer any question below