Hope you had a great 4th of July! The holiday celebrates our independence and nothing spells freedom more than living your dream.
If you own your own business or are an independent contractor, remember the second quarter of estimated tax payments were due in June.
Speaking of taxes, I’ve been reading a lot about tax-related identity theft. The stories are popping up now, well after tax season. Turns out nearly half a million people are victims of tax-related identity theft or tax fraud, according to the National Tax Advocate.
Because of this, I thought I would share some best practices we use at DM Accounting to protect our clients from tax fraud and ID Theft. Here are some of my favorites:
Make sure you have a trustworthy tax preparer. He or she should not ask you to sign blank returns.
Monitor your credit reports on a regular basis. I recommend pulling your credit report at least once a year.
Store your tax documents in a safe place. Consider renting a safety deposit box or placing them in a locked file cabinet.
Never click on an email from someone who claims to be from the IRS or follow a link in an email. The IRS does not currently contact people via computer or phone. It’s best to visit www.IRS.gov directly.
Do not use a public computer to file your e-taxes. Make sure your tax preparer follows this advice too.
Keep your computer operating systems safe and secure and make sure your bookkeeper does the same.
I hope these tips keep you from becoming a victim of tax fraud.
At DM Accounting, we have security checks in place to protect our clients. If you’re not a client, don’t be afraid to ask your own bookkeeper to share their security measures. If they refuse, then run!
Enjoy your 4th of July weekend. God Bless America!
