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.
The first advance payment from the newly expanded child tax credit was recently sent out by the IRS. Payments are scheduled to be made on the 15th of each month through December.
Here’s what you need to know about the child tax credit and the advance payments.
Background
For the 2021 tax year, an expanded child tax credit reduces your tax bill by $3,600 if you have a qualifying child that’s age 5 or under, or by $3,000 if you have a qualifying child from age 6 to 17.
If the total amount of the child tax credit for your family exceeds the total taxes you owe, you’ll receive the amount of the credit as a refund.
Child tax credit advance payments
Instead of waiting to file your tax return to receive the entire amount of your child tax credit, the IRS is directed by Congress to send 50% of the credit to you in six monthly payments beginning in July 2021.
For example, say you have three kids, ages 10, 12 and 16. Also assume your income is not too high and your children meet the IRS definition of a qualifying child. Instead of waiting until 2022 when you file your 2021 tax return to receive the entire $9,000 child tax credit, you can get paid half of the child tax credit amount, or $4,500, in 2021.
The advance payments began July 15 and continue for six months until December 15. The family in this example would receive six payments of $750 starting July 15, for a total of $4,500.
What you need to know
The monthly payments are automatic. You’ll automatically receive advance payments if:
- You filed a 2019 or 2020 tax return and claimed the credit, OR
- You gave information in 2020 to receive the Economic Impact Payment using the IRS non-filer tool, AND
- The IRS thinks you are eligible, AND
- You did not opt-out of the early payments.
Register with the IRS. If you didn’t file a 2019 or 2020 tax return but are otherwise eligible for the child tax credit, you’ll need to register with the IRS to receive the child tax credit. Click here to visit the IRS website to find out if you need to register.
Consider if you should opt out of the advance payments. Getting half of your child tax credit ahead of time may not be the right move for everyone. For example, if your 2021 income ends up higher than expected, you may need to pay back the advance payments when you file your tax return. To opt out, click here to visit the IRS’s child tax credit update portal.