Tag Archives: information

Big Tech Knows Who You Are!

Tips for enhancing your digital privacy

Companies are following your every move. When you have a cell phone, they are tracking what apps you use, where you go, who you talk to and more! Other smart devices listen to your conversations in your home, keep track of what you view on your TV, and report where you visit and what routes you take to get there. Even worse, the more you share the greater the chance a hacker gets this information.

Consider these tips to more actively protect yourself and your information.

The power of the opt out

Apple recently introduced an opt out feature on their iPhones. Historically, when you download a new app onto an iPhone, you have to manually opt out of sharing your device’s data. Now when you download a new app on your iPhone, you’ll be asked whether you want to opt in and allow the app to have access to your information.

So, if you are an iPhone user, start with the opt out and then deliberately select who you wish to give access to your information. And opt out does not have to be global. For instance, a direction function needs your location when you use it. But it does not need to be turned on all the time.

Actions:

  • Leave opt-out as default on iPhones and set default to opt-out on other mobile phone brands.
  • Review all apps and turn off tracking and data sharing.
  • Actively turn off your phone if you do not wish to be tracked.
  • Review all smart devices and select your opt out options. Include TVs and personal assistants in your review.

Protect your web browsing

Companies love to keep tabs on your browsing habits. And it is not just limited to their own sites. They might spy on ALL your activity. They see every website you visit, monitor all your clicks, and track all social media likes and videos you view. They then use this information to determine what you see and read. In short, they control your world view, both in content and in what ads you see.

Actions:

  • Actively use ad blockers such as AdBlock and uBlock.
  • Turn off cookies and periodically empty your cache.
  • Avoid downloading any and all extensions unless absolutely required.

Use best data protection practices

As the internet and smart devices evolve, so do the thieves that wish to steal your identity and your financial resources. So, keep up-to-date on best data protection practices.

Actions:

  • Vary passwords and user IDs. Keep track of them outside of your computer.
  • Keep operating systems and software up-to-date.
  • Encrypt your emails and computer hard drive.
  • Keep banking information off your cell phone.
  • Back up all your devices remotely.
  • Use current antivirus software.
  • Monitor your credit reports for any suspicious activity.
  • Confirm before opening suspicious emails or attachments.

Most importantly, stay informed. In the end, the burden of protecting your data always falls on you.

Twelve Common Snags to Finalizing Your Tax Return – Part 2

Last week we gave you the first half of a list of items that are often overlooked that cause trouble in filing a timely tax return.  Here’s the second half of the list!

Name mismatch – If you’ve recently married or divorced, make sure your last name on your tax return matches the one on file at the Social Security Administration.

Inconsistent information – Most tax preparation software will check a tax return for inconsistencies. The message “Diagnostic Error!” will make you cringe. When one occurs, they must be resolved prior to filing your tax return. An example might be you filing Married Filing Separate, while your soon-to-be ex-spouse files as Married Filing Joint or Single.

No information for a common deduction – If you claim a deduction, you will need to provide support to document the claim.

Missing cost information for transactions – Brokers send out their statements with the sales transactions. You will need to also provide the cost and purchase information (cost basis) or the tax return cannot be filed.

Missing K-1 – If you have ownership of a partnership, Sub Chapter S or LLC, you should receive a Form K-1 that reports your share of the profit or loss from the business activity.  Without this K-1, you cannot file your tax return.

Forms with no explanation – If you receive a tax form, but have no explanation for the form, questions arise.  For instance, if you receive a retirement account distribution form, it may be deemed income. If it is part of a qualified rollover, no tax is due.  An explanation is required to file your information correctly.

Hopefully, by knowing these common missing pieces of information, you can prepare to have your tax filing process a smooth one!

Twelve Common Snags to Finalizing Your Tax Return – Part 1

The goal for every taxpayer is to have their return filed quickly and without error.  Here’s the first half of a handy list of items that are often overlooked and can cause all sorts of delays.

Review your tax return and return your signed eFile forms – Your tax returns can’t be filed until you have reviewed them and returned the signed eFile forms to your preparer. The sooner you do this, the sooner you’re filed.

Having proof of health insurance – You should receive a Form 1095 confirming you have health insurance. However, if your employer is one of those that received approval to send a delayed form, you still need to provide your preparer with proof of insurance before filing.

Missing W-2 and/or 1099 – One missing income form and the next thing you know, you’re paying to file an amended. Using last year’s tax return, or a tax organizer provided by your preparer, make sure all prior W-2’s and 1099’s are received and provided to your tax preparer.

Incorrect information on a W-2 or 1099 – Always double-check your forms to make sure the information is accurate – one wrong spelling of a name or one digit off on your SSN and the filing process comes to a screeching halt. Make sure 1099 income is in the correct box. Are you receiving rents and receive a 1099-MISC with the amount in the Non-Employee Compensation box? Then you face a choice – either try to get the form corrected or delay filing your tax return.

Missing or invalid Social Security Number – This one is sort of a given – if you don’t have a valid SSN, there will be no tax filing.

Dependent already claimed – Share joint custody of a child? Or, did your college student think they could file claiming themselves? Your return cannot be filed if there is a conflict in this area. Make sure it’s clear who gets to claim the dependents in your life.

Look for the second part of this article next week!