By Tom Bull
For some, perhaps not many, it’s a good time of year because they get to wrap up how they or their business did the previous year. Many business owners don’t really know how they’re doing until their accountant tells them at tax season…YAY!
I think it’s safe to say that most people hate tax season. Collecting, organizing and classifying all those transactions is a pain. It takes precious time away from running your business or having fun. And the worst part – you might owe money to the state or federal government…NAY!
Things can move fast at the beginning of the year. Lots of incoming paperwork for you or your accountant. Loads of emails too. Some legit and some not. This is a very active time of the year for hackers and scammers so you need to be extra vigilant to keep you and your money safe and sound.
But Wait,
the IRS is Safe, Right?
For the most part, yes. But we can be easily fooled into opening a bad email or taking instructions over the phone. Here’s the best advice regarding any communication from the IRS: they won’t call you, text you or email you until they first send a notice via U.S. Postal Service. Use the number on the official notice to call them if you have questions. Don’t use Google to find their number. What we hear the most is someone gets an email about money due or owed with a link. You click the link and then you’re asked to put in your email address and email password. That’s phishing and it is bad news! If the bad guys get your email address and password, they can wreak all sorts or havoc. They may even try to get your bank log-in info the same way. Terrible stuff.
Keep Passwords Strong
Using a password manager app to create and catalog passwords for you is a great idea to keep the bad guys out. Complex passwords can be stored in a “vault” and only you know how to get in. And don’t forget multifactor authentication (MFA) or two-factor authentication (2FA) that ensures when you log in to your email, bank or other online accounts that you are challenged to provide additional proof that you are actually you. Typically, this is a text message that gets sent to your phone or by using an authentication app, also on your phone. So, unless you know the username, password and have your mobile phone, you cannot access the account. Keeping your important accounts safeguarded is the name of the game.
Safe Sharing
with Your Tax Accountant
Many tax preparers have a way for you to securely share your documents via upload. They will provide a link for you to upload scans or pictures. If you know them, then follow their instructions for uploading. You can also use Dropbox, Google Drive and Microsoft OneDrive with restricted permissions just for the tax preparer. And if you’re uncomfortable doing it online, then just drive them over. Make copies for yourself before giving the originals away.
Have your eyes wide open and your head on a swivel this time of year. Slow down, take your time when it comes to your money and taxes. Question things if they don’t look right. Ask a friend or family member if you’re unsure about something you see or hear. Trust your instincts.
Tom Bull has been in the computer and technology field since 1981. He spent 25 years working with small businesses to manage their technology before star ting Two River Computer in Fair Haven in 2006.
The article originally appeared in the January 30 – February 5, 2025 print edition of The Two River Times.
