May was a month of weather so extreme nationwide that, as hurricane season approaches, the IRS is reminding tax payers to take steps now to safeguard their tax records from destruction. In the unfortunate event of a natural disaster, the agency says there are five ways individuals and businesses can ensure they have the tax records they need in case of an audit. One helpful tip is to use the cloud as much as possible. Even if you keep paper records, scan and save them electronically using a secure cloud service. While most financial institutions can easily help you retrieve lost bank statements, other records like receipts and mileage reports may be irreplaceable. Maintaining your own electronic backup of these documents will give you peace of mind that you have all the records you need.

For more tips, read the entire article.

Image Source: Bart Everson