August 7, 2019
You may encounter at any time a variety of tax fraud schemes, from simple refund inflation scams to complex tax shelter deals. Here is a list of some of the frauds to be vigilant about:
You can protect yourself by choosing a reputable tax preparer and remaining vigilant for such schemes. Ross Hughes and Associates takes fraud seriously and security is our top priority. Phishing attacks are on the rise and make us all more vunerable. To reduce overall exposure to email phishing attacks and to improve data security, our firm has made the switch from vulnerable email to a more secure and efficient communication and collaboration platform called Liscio.
“According to cybersecurity firm Trend Micro, about 90 percent of all data breaches begin with a simple email phishing attack. All it takes is an accidental click of a malicious email to infect your systems and compromise your data. Banks and financial institutions have already moved away from email to communicate and transfer files with clients. Accounting firms must follow suit.” – Darren Root, CEO, Liscio
Liscio replaces portals and allows you (our client) to message us, sign documents, onboard via browser or iPad, and send documents securely. Liscio offers a Mobile App and browser version for your convenience.
We will no longer be communicating through email. We will turn off our portal solution, Sharefile, by the end of this year. If you need access to a document after that, please request the document through Liscio.
If you are a client of Ross Hughes & Associates, have not already been setup in Liscio and would like to be, please call Shannon in our office (904) 641-6288 and she will send you a Liscio invite. Please accept the invite and follow the short step-by-step tutorial attached as a PDF in the email to set up your Liscio account.
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Tax season may be over, but tax scams are with us year-round. The IRS has issued a "Dirty Dozen" list of tax scams that may keep returning. Click through to learn how to recognize these and protect yourself.
If you’ve been using QB Online for a long time, it’s good to step back and evaluate how you use your software. Do you follow any best practices? Click through to learn more about six QuickBooks Online tips that you can start using today.
Using best practices in QuickBooks Online has many benefits, including the following:
Depreciation is a reduction in the value of an asset over time resulting from wear and tear, deterioration or obsolescence. The tax law acknowledges depreciation by allowing taxpayers to take deductions over a period of years. The number of years over which the property can be depreciated depends on the category into which it falls under the Modified Accelerated Cost Recovery System (MACRS),...