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Alfa One Corporation Accounting Solutions: Top social media scams to avoid in 2016
Nowadays, almost everyone is vulnerable in the virtual world and it's not surprising that scammers often target victims in social media sites. The power of social media is massive these days because there are billions of people using social media platforms every day to perform different purposes.
Alfa One Corporation Accounting Solutions claims that the personal, especially the financial information of a person are not 100% secured online. Experts reveal that in the past few years, the number of phishing attempts on social networking sites has exploded to more than a hundred percent.
To hide their identity, fraudsters often blend in with the crowd and use social media to target a lot of people. They take advantage of the way people use social media by mimicking users and their activities to deal with business matters. Alfa One Corporation reviewed some studies and found out that the following are the most common scams on social media sites today.
Fake customer service accounts
This deceitful scheme often happens on Twitter. Criminals who reside online can phish the financial and other sensitive data of their victims by creating fake customer service accounts. Their usernames may seem identical to the genuine ones, but note that there are usually some characters that do not match or does not belong to the original one. Look for an extra underscore or other keyboard characters.
One example of this scheme is that when a real customer tweets at a major bank, the fraudsters will divert the conversation by replying to that tweet with an answer that seems authentic. And intercept the tweet with a link to a fake support site that attempts to steal the customer's actual banking account details.
Fake comments
Well, this could be done by anyone, but scammers have different motifs behind and often done on popular posts. It's apparent that a well-liked social media post or news story will generate a lot of comments and the scammers will take advantage of that. They will pretend to be an ordinary Facebook user and will comment on posts with links that could catch the interest of many that often leads to a credit card phishing scam.
Fake discounts
Some online discounts are bogus and this scheme is somewhat similar to fake customer service accounts. Scammers will create social media accounts that are identical to real businesses and pretend to offer real deals and discounts, and then steal your personal and financial information.
Fake live-stream videos
Live-streaming appears to be a trend nowadays and a lot of media companies began streaming their shows and movies online. Through this, scammers find a new way to find possible targets and carry out financial phishing scams. For example, they usually offer a link to a free live stream and many people will tend to believe them and not knowingly, becomes a victim of an evil scheme. In this tactic, the link will take you to a fake website and demands you to provide your personal information in order to begin the live-stream.
Fake surveys and contests
Not all online surveys and contests available on the web are real. Scammers can mine and sell your personal data by doing surveys and contests that require you to provide your credentials through personal questions. Scammers use the comment section on social media sites to target as many people as possible with fake online surveys and quizzes that steal personal information. They often embed them into social media posts and often look legit because of URL shorteners and there's also a normal looking profile picture. Be aware of a comment that goes something like this: "What's your opinion? We'd like to know! Participate in our research surveys and enter to win prizes!”
Alfa One Corporation always strives to give people important warnings about scammers on social media sites. The firm wants you to remember that the only one responsible for your own safety is yourself. Not every post you see on the internet is real, so be cautious all the time.
For over two decades, the financial experts of Alfa One Corporation Accounting Solutions in Tokyo, Japan have provided a one-stop financial-services source in management of business practice, tax and financial planning, accounting, transition, investment counseling and retirement planning consultancy especially for the dental industry in Malaysia, Tokyo and Hong Kong. Since our company started its operations, dentists have relied on our knowhow, expertise, and experience to help them attain their business and personal objectives with excellent results. Our well-trained staff of Certified Public Accountants, Certified Financial Planners, accountants and bookkeepers are ready to provide dentists the assistance they require on a day-to-day arrangement. We aim to enhance all our clients' financial productivity as well as the quality of life.
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How to Protect Your Business Against Fraud: Alfa One Corporation Complete Accounting Solutions
The amount of fraud being perpetrated against businesses is getting worse, both in terms of the number of instances and the amount of money that is being lost, and some of that can be attributed to worsening economic times, according to research. Almost half of the companies around the world surveyed by PriceWaterhouseCoopers in 2009 reported that they suffered one or more instance of economic crimes. The survey, which involved 3,000 executives of businesses large and small in 54 countries, found that 88 percent of U.S. companies that reported some type of fraud also reported declines in financial performances. In addition, three-fourths of the crimes against businesses in the U.S. were carried out by insiders.
For small and mid-sized businesses, the vulnerability to fraud can be compounded because of the sometimes informal nature and the fact that fewer staff members can result in less oversight -- and a lack of checks and balances.
'Small businesses tend to be very informal in nature. A lot of times they're either formed with friends or family members, and all the formalities are not in place as they would be in a larger business,' says Elena N. Lougovskaia, co-founder of Lougovskaia Boop, LLC, a law practice in Cleveland, Ohio, focused on business law and commercial litigation. 'Employees wear many different hats and perhaps decision makers should be separated from people who sign the checks or one person should be responsible for signing check and a separate person should be responsible for accounting, processing invoices, and purchasing.'
The following pages will cover the types of fraud against business, how to detect fraud in your business, and how to set up policies and procedures to prevent your business becoming a victim of fraud.
How to Protect Your Business against Fraud: Types of Fraud against Business
The media is filled with stories of consumer victims of fraud. But the reality is that businesses, especially smaller enterprises, are more often the victims of fraud than consumers. The types of fraud can vary wildly, from accounting scams carried out by employees to fraudulent returns from customers to data theft by outsiders. Businesses have less protection than the consumer and, in some cases, can be held responsible in a business fraud scheme, owing liability to banks, shareholders, insurers, credit card processors and other entities. New laws also hold businesses accountable for liability in the event of some types of fraud perpetrated by third parties, such as data breaches.
For over two decades, the financial experts of Alfa One Corporation Accounting Solutions in Tokyo, Japan have provided a one-stop financial-services source in management of business practice, tax and financial planning, accounting, transition, investment counseling and retirement planning consultancy especially for the dental industry in Malaysia, Tokyo and Hong Kong. Since our company started its operations, dentists have relied on our knowhow, expertise, and experience to help them attain their business and personal objectives with excellent results. Our well-trained staff of Certified Public Accountants, Certified Financial Planners, accountants and bookkeepers are ready to provide dentists the assistance they require on a day-to-day arrangement. We aim to enhance all our clients' financial productivity as well as the quality of life.
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Alfa One Corporation Accounting Solutions Business Review
Not surprisingly, Alfa One Corporation Accounting Solutions is the leading provider of unique accounting and financial solutions in Hong Kong, Malaysia, and Tokyo, Japan. The corporation’s distinctive methods allow their clients to enhance their business and reach success. They also have a reliable accounting professionals that specializes in complete-service accounting solutions and advanced financial methods designed to meet the needs of their clients.
Alfa One Corporation Accounting Solutions is a well-known firm in Malaysia that provides a comprehensive accounting and financial solutions to answer both corporate and personal goals of their clients. The company’s specialized method in attaining financial stability provides their clients the ability to achieve the full potential of their investments and accounting.
Alfa One’s partnerships among accountants, bookkeepers, Certified Financial Planners (CFP's), and Certified Public Accountants (CPAs) provide their clients a deep source of benefits and advantages.
Business Clients
Ever since the company began, Alfa One Corporation Accounting Solutions has been greatly committed in providing accounting solutions and strategies to a multitude of businesses throughout the world. The company prides itself on having complete-service accounting and financial solutions that allows their clients to achieve their individual and business goals.
Alfa One could also offer impeccable client assistance to you and your team on a regular basis. The company is known nowadays as a firm of excellence and professionalism. This reputation is the result of more than 20 years of expertise in guiding small to medium-size businesses in improving the growth and development of their business.
Business Accounting Services
Alfa One Corporation Accounting Solutions has a highly-efficient team of accountants, bookkeepers, CFP’s, and CPA’s that works together to create all the necessary tax returns, income tax preparations, and assessment reports to guide the progressive course of their clients’ business.
With good reputation in accounting, Alfa One Corporation Accounting Solutions provides effective solutions to their clients to help them create facts-based financial decisions and reach their ultimate business and personal goals.
Alfa One’s accounting services include regular financial statements developed for businesses that is focused on important financial ratios, quarterly meetings to evaluate and review the client’s financial progress, proactive tax planning to prepare for business opportunities and decrease tax liabilities, payroll assistance by a qualified payroll accountant to manage the client’s individual needs, and employee compensation and benefits management for their client’s business.
Alfa One Corporation Accounting Solutions’ accounting strategies are designed to support productivity requirements. And according to countless reviews, this provides their clients an accurate measure of their position regarding their ultimate financial future.
Business Consulting
Alfa One Corporation Accounting Solutions also provides the needed management advisory of their clients to improve their business. They offer support and business insight to increase profitability and develop financial management to ensure that their clients can focus on providing excellent customer care.
They strive to improve both of your personal and business’ financial well-being, while helping you develop a great corporate environment. You’ll surely have a reliable provider of insight and expertise by partnering with Alfa One Corporation Accounting Solutions who understands businesses in all its phases and has an extensive experience in accounting, financial planning, taxation, insurance, management of business practice consulting, and human resources you need for achieving business excellence.
Alfa One Corporation Accounting Solutions guarantees you better solutions, better decisions and better staff through its business consulting. They could give you answers to quick questions as part of their standard services and at no extra fee. You could call them to discuss anything that affects your finances to get insightful and objective advice. Alfa One could also provide front-office system management, create good bookkeeping strategies, and comprehend important operational concerns.
Alfa One Corporation Accounting Solutions can collaborate with you or with your broker, to develop a sound transition program both personally and financially. They could provide solutions to your questions about taxation, financing and contracts, and will act as your reliable counselor when you have to make vital decisions.
Alfa One’s start-up and transition services include developing programs for initiating, purchasing, selling or merging a business; assisting new business owners set up a business with guidance on financing, set up and business profitability; producing multiple-entity frameworks to meet the multifarious needs of the owners; building systems for starting a second office or calling in a new partner; undertaking research on regional incomes, wages and other vital profitability parameters; and assisting retiring owners on business-sale decisions and giving advice on administering sale proceeds.
Alfa One Corporation Accounting Solutions could assist various business owners in deciding their options and generate sound business decisions. The corporation strives diligently to deliver quality assistance to achieve their clients’ desired financial objectives. They have a rare combination of accounting and financial experience and expertise that can support a hard-to-match technique to reach the financial success of their clients.
Summary: For over two decades, the financial experts of Alfa One Corporation Accounting Solutions have provided a one-stop financial-services source in management of business practice, tax and financial planning, accounting, transition, investment counseling and retirement planning consultancy especially for the dental industry in Malaysia, Tokyo and Hong Kong. Since our company started its operations, dentists have relied on our knowhow, expertise, and experience to help them attain their business and personal objectives with excellent results. Our well-trained staff of Certified Public Accountants, Certified Financial Planners, accountants and bookkeepers are ready to provide dentists the assistance they require on a day-to-day arrangement. We aim to enhance all our clients' financial productivity as well as the quality of life.
Alfa One Corporation Accounting Solutions is a well-known firm in Malaysia that provides a comprehensive accounting and financial solutions to answer both corporate and personal goals of their clients. The company’s specialized method in attaining financial stability provides their clients the ability to achieve the full potential of their investments and accounting.
Alfa One’s partnerships among accountants, bookkeepers, Certified Financial Planners (CFP's), and Certified Public Accountants (CPAs) provide their clients a deep source of benefits and advantages.
Business Clients
Ever since the company began, Alfa One Corporation Accounting Solutions has been greatly committed in providing accounting solutions and strategies to a multitude of businesses throughout the world. The company prides itself on having complete-service accounting and financial solutions that allows their clients to achieve their individual and business goals.
Alfa One could also offer impeccable client assistance to you and your team on a regular basis. The company is known nowadays as a firm of excellence and professionalism. This reputation is the result of more than 20 years of expertise in guiding small to medium-size businesses in improving the growth and development of their business.
Business Accounting Services
Alfa One Corporation Accounting Solutions has a highly-efficient team of accountants, bookkeepers, CFP’s, and CPA’s that works together to create all the necessary tax returns, income tax preparations, and assessment reports to guide the progressive course of their clients’ business.
With good reputation in accounting, Alfa One Corporation Accounting Solutions provides effective solutions to their clients to help them create facts-based financial decisions and reach their ultimate business and personal goals.
Alfa One’s accounting services include regular financial statements developed for businesses that is focused on important financial ratios, quarterly meetings to evaluate and review the client’s financial progress, proactive tax planning to prepare for business opportunities and decrease tax liabilities, payroll assistance by a qualified payroll accountant to manage the client’s individual needs, and employee compensation and benefits management for their client’s business.
Alfa One Corporation Accounting Solutions’ accounting strategies are designed to support productivity requirements. And according to countless reviews, this provides their clients an accurate measure of their position regarding their ultimate financial future.
Business Consulting
Alfa One Corporation Accounting Solutions also provides the needed management advisory of their clients to improve their business. They offer support and business insight to increase profitability and develop financial management to ensure that their clients can focus on providing excellent customer care.
They strive to improve both of your personal and business’ financial well-being, while helping you develop a great corporate environment. You’ll surely have a reliable provider of insight and expertise by partnering with Alfa One Corporation Accounting Solutions who understands businesses in all its phases and has an extensive experience in accounting, financial planning, taxation, insurance, management of business practice consulting, and human resources you need for achieving business excellence.
Alfa One Corporation Accounting Solutions guarantees you better solutions, better decisions and better staff through its business consulting. They could give you answers to quick questions as part of their standard services and at no extra fee. You could call them to discuss anything that affects your finances to get insightful and objective advice. Alfa One could also provide front-office system management, create good bookkeeping strategies, and comprehend important operational concerns.
Alfa One Corporation Accounting Solutions can collaborate with you or with your broker, to develop a sound transition program both personally and financially. They could provide solutions to your questions about taxation, financing and contracts, and will act as your reliable counselor when you have to make vital decisions.
Alfa One’s start-up and transition services include developing programs for initiating, purchasing, selling or merging a business; assisting new business owners set up a business with guidance on financing, set up and business profitability; producing multiple-entity frameworks to meet the multifarious needs of the owners; building systems for starting a second office or calling in a new partner; undertaking research on regional incomes, wages and other vital profitability parameters; and assisting retiring owners on business-sale decisions and giving advice on administering sale proceeds.
Alfa One Corporation Accounting Solutions could assist various business owners in deciding their options and generate sound business decisions. The corporation strives diligently to deliver quality assistance to achieve their clients’ desired financial objectives. They have a rare combination of accounting and financial experience and expertise that can support a hard-to-match technique to reach the financial success of their clients.
Summary: For over two decades, the financial experts of Alfa One Corporation Accounting Solutions have provided a one-stop financial-services source in management of business practice, tax and financial planning, accounting, transition, investment counseling and retirement planning consultancy especially for the dental industry in Malaysia, Tokyo and Hong Kong. Since our company started its operations, dentists have relied on our knowhow, expertise, and experience to help them attain their business and personal objectives with excellent results. Our well-trained staff of Certified Public Accountants, Certified Financial Planners, accountants and bookkeepers are ready to provide dentists the assistance they require on a day-to-day arrangement. We aim to enhance all our clients' financial productivity as well as the quality of life.
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Alfa One Corporation Accounting Solutions Services
Alfa One Corporation Accounting Solutions has been committed to provide excellent services to their clients for more than two decades. Their services include accounting services, tax preparation services, personal financial planning, and insurance and long-term care.
Alfa One Corporation Accounting Solutions has provided extensive accounting solutions that guarantee the secure financial condition of their clients for more than twenty years. They offer a synergistic financial approach in helping their clients achieve financial stability. The corporation’s partnerships among CPA’s, CFP’s, accountants, and bookkeepers provide their clients a great source of advantages and benefits, and the ability to achieve the full potential of their accounting and investments.
Experts from Alfa One Corporation Accounting Solutions deliver complete financial services to their clients, particularly in the dental industry. These services include accounting, investment counseling, management of business practice, retirement planning consultancy, tax and financial planning, and transition. Due to the corporation’s excellent outcomes, dentists have relied on their expertise throughout the years to help them accomplish their personal and corporate goals.
Alfa One Corporation Accounting Solutions’ committed staff members include Certified Public Accountants, Certified Financial Planners, accountants, and bookkeepers. They could provide the needed support of dentists on a daily basis. The corporation strives hard to improve their clients’ financial productivity and quality of life.
Accounting services
With more than two decades of accounting expertise, Alfa One Corporation Accounting Solutions has provided comprehensive accounting solutions in achieving the needs of their clients. The corporation also has a variety of tools and resources that is rare to find in the accounting industry.
In particular, Alfa One Corporation Accounting Solutions offers accounting reconciliation consultancy, bookkeeping services (monthly, quarterly, and yearly), business or practice budget planning, financial statement reports, monthly evaluation of accounts receivable and production reports, payroll assistance, tax planning, and tax preparation for their clients.
Tax preparation services
Since its inception, Alfa One Corporation Accounting Solutions has been successful in providing a good tax return preparation for numerous professionals and investors. Their tax experts eradicate the uncertainties and will give you the assurance that your taxes are accomplished well.
The corporation’s group of well-trained tax experts will assist you to determine and evaluate your tax condition for the most suitable method to apply. They see to it that all of your concerns have been answered and all valid deductions, credits, and methods are being used.
Alfa One Corporation Accounting Solutions’ systems are focused on producing the greatest total tax savings of their clients. They carefully examine the tax implications of a business, an individual, a family, or an investment to reduce tax payments.
Alfa One Corporation Accounting Solutions can provide worthwhile results and monetary savings through their tailored and wide-ranging strategy by incorporating your tax services with your financial planning methods. The corporation achieves this through: working together as one, their tax advisors and your investment advisor can incorporate your tax condition with your financial planning systems; making use of all resources to pinpoint methods of saving on taxes and assuring accurate tax returns; preparing your tax returns by expert, licensed tax advisors; reviewing of your final tax returns by a registered CPA; and providing a year-long tax advisory assistance to be contained in your tax-return fee for subsequent tax planning in the coming years.
Personal financial planning
Partner with an expert
As a partner of their parent company named Alfa One Corporation Wealth Group, Alfa One Corporation Accounting Solutions could provide a focused and efficient financial planning that allows their clients to achieve their objectives. They generate specialized financial methods to assist clients in fulfilling their financial and personal dreams.
Alfa One Corporation Accounting Solutions will undergo a complete management process over your financial condition and create a continuing strategy suited for your needs. The first step to be undertaken involves the review of all wealth-building strategies and their components that includes accumulation, business strategizing, estate planning, retirement planning, risk reduction, and taxation.
Create a complete plan
By carefully studying all the modules, Alfa One Corporation Accounting Solutions will determine which ones need their close and immediate attention and which ones require continuous monitoring. They will develop an implementation program for their client’s future financial life.
Support your financial goals
By partnering with Alfa One Corporation Accounting Solutions, the clients can simplify the process of enhancing their financial condition by attending closely on managing their assets and investments more efficiently in the long-term.
The corporation’s individual financial planning strategy helps their clients in generating reliable solutions to all of the issues involved. Their method starts with a detailed analysis of individual goals in order to actually comprehend your present situation and the enhanced financial condition you want to achieve.
Alfa One Corporation Accounting Solutions are able to draw out your essential needs, wants, and aspirations, to tailor-fit a method that suits fit your goals. The corporation will continue to become your partner while providing assistance, advice, and tools for you in order to solve any issues through all circumstances in your financial life.
The corporation can develop an individualized system to assist their clients in identifying their financial requirements, and to suggest answers for their important concerns.
If your business exists currently in its beginning stages of growth, or thrives as an established venture, Alfa One Corporation Accounting Solutions business-needs services allow you to manage your business with ease. Their business and estate planning experts will design a business-needs evaluation package to review your risk reduction plan, business-sustenance plan, and employee-benefit requirements. Starting with strategic planning, to specific benefits, to succession strategizing, you can truly depend on the corporation to guide you and support you as your committed chief financial officer.
Their business-evaluation procedure integrates all the management requirements of your business through distributions to the business owners, employee and executive compensation and benefits, executive compensation package planning, flexible-expenses accounts, group-insurance coverage planning, operating system strategies, risk mitigation and control, and succession program.
Insurance and long-term care
Alfa One Corporation Accounting Solutions review objectively any need you may have for Life, Long-Term Care and Disability Insurance and other forms of insurance coverage within your overall financial plan. They also endorse the appropriate amount, type, beneficiary assignments, and deductibles needed to satisfy your insurance objectives.
Their highly qualified group of advisors is ready to help you and your business to reach your financial objectives for the present and for the future.
Alfa One Corporation Accounting Solutions has provided extensive accounting solutions that guarantee the secure financial condition of their clients for more than twenty years. They offer a synergistic financial approach in helping their clients achieve financial stability. The corporation’s partnerships among CPA’s, CFP’s, accountants, and bookkeepers provide their clients a great source of advantages and benefits, and the ability to achieve the full potential of their accounting and investments.
Experts from Alfa One Corporation Accounting Solutions deliver complete financial services to their clients, particularly in the dental industry. These services include accounting, investment counseling, management of business practice, retirement planning consultancy, tax and financial planning, and transition. Due to the corporation’s excellent outcomes, dentists have relied on their expertise throughout the years to help them accomplish their personal and corporate goals.
Alfa One Corporation Accounting Solutions’ committed staff members include Certified Public Accountants, Certified Financial Planners, accountants, and bookkeepers. They could provide the needed support of dentists on a daily basis. The corporation strives hard to improve their clients’ financial productivity and quality of life.
Accounting services
With more than two decades of accounting expertise, Alfa One Corporation Accounting Solutions has provided comprehensive accounting solutions in achieving the needs of their clients. The corporation also has a variety of tools and resources that is rare to find in the accounting industry.
In particular, Alfa One Corporation Accounting Solutions offers accounting reconciliation consultancy, bookkeeping services (monthly, quarterly, and yearly), business or practice budget planning, financial statement reports, monthly evaluation of accounts receivable and production reports, payroll assistance, tax planning, and tax preparation for their clients.
Tax preparation services
Since its inception, Alfa One Corporation Accounting Solutions has been successful in providing a good tax return preparation for numerous professionals and investors. Their tax experts eradicate the uncertainties and will give you the assurance that your taxes are accomplished well.
The corporation’s group of well-trained tax experts will assist you to determine and evaluate your tax condition for the most suitable method to apply. They see to it that all of your concerns have been answered and all valid deductions, credits, and methods are being used.
Alfa One Corporation Accounting Solutions’ systems are focused on producing the greatest total tax savings of their clients. They carefully examine the tax implications of a business, an individual, a family, or an investment to reduce tax payments.
Alfa One Corporation Accounting Solutions can provide worthwhile results and monetary savings through their tailored and wide-ranging strategy by incorporating your tax services with your financial planning methods. The corporation achieves this through: working together as one, their tax advisors and your investment advisor can incorporate your tax condition with your financial planning systems; making use of all resources to pinpoint methods of saving on taxes and assuring accurate tax returns; preparing your tax returns by expert, licensed tax advisors; reviewing of your final tax returns by a registered CPA; and providing a year-long tax advisory assistance to be contained in your tax-return fee for subsequent tax planning in the coming years.
Personal financial planning
Partner with an expert
As a partner of their parent company named Alfa One Corporation Wealth Group, Alfa One Corporation Accounting Solutions could provide a focused and efficient financial planning that allows their clients to achieve their objectives. They generate specialized financial methods to assist clients in fulfilling their financial and personal dreams.
Alfa One Corporation Accounting Solutions will undergo a complete management process over your financial condition and create a continuing strategy suited for your needs. The first step to be undertaken involves the review of all wealth-building strategies and their components that includes accumulation, business strategizing, estate planning, retirement planning, risk reduction, and taxation.
Create a complete plan
By carefully studying all the modules, Alfa One Corporation Accounting Solutions will determine which ones need their close and immediate attention and which ones require continuous monitoring. They will develop an implementation program for their client’s future financial life.
Support your financial goals
By partnering with Alfa One Corporation Accounting Solutions, the clients can simplify the process of enhancing their financial condition by attending closely on managing their assets and investments more efficiently in the long-term.
The corporation’s individual financial planning strategy helps their clients in generating reliable solutions to all of the issues involved. Their method starts with a detailed analysis of individual goals in order to actually comprehend your present situation and the enhanced financial condition you want to achieve.
Alfa One Corporation Accounting Solutions are able to draw out your essential needs, wants, and aspirations, to tailor-fit a method that suits fit your goals. The corporation will continue to become your partner while providing assistance, advice, and tools for you in order to solve any issues through all circumstances in your financial life.
The corporation can develop an individualized system to assist their clients in identifying their financial requirements, and to suggest answers for their important concerns.
If your business exists currently in its beginning stages of growth, or thrives as an established venture, Alfa One Corporation Accounting Solutions business-needs services allow you to manage your business with ease. Their business and estate planning experts will design a business-needs evaluation package to review your risk reduction plan, business-sustenance plan, and employee-benefit requirements. Starting with strategic planning, to specific benefits, to succession strategizing, you can truly depend on the corporation to guide you and support you as your committed chief financial officer.
Their business-evaluation procedure integrates all the management requirements of your business through distributions to the business owners, employee and executive compensation and benefits, executive compensation package planning, flexible-expenses accounts, group-insurance coverage planning, operating system strategies, risk mitigation and control, and succession program.
Insurance and long-term care
Alfa One Corporation Accounting Solutions review objectively any need you may have for Life, Long-Term Care and Disability Insurance and other forms of insurance coverage within your overall financial plan. They also endorse the appropriate amount, type, beneficiary assignments, and deductibles needed to satisfy your insurance objectives.
Their highly qualified group of advisors is ready to help you and your business to reach your financial objectives for the present and for the future.
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Tips on how to avoid the top scams of 2015 by Alfa One Corporation Accounting Solutions
Founded in Malaysia, Alfa One Corporation Accounting Solutions provides complete accounting and financial solutions. And as a part of its yearly review on issues regarding tax scams, it provides the top scams of 2015 which includes basic ways on how to avoid them.
This year, incidents of scams have been reported on the news almost every day. So Alfa One Corporation Accounting Solutions provided some tips on how to steer clear of the top scams of 2015 since scammers use different ways every year to try to steal taxpayers’ hard-earned money.
Do you ever experience receiving an unexpected call from someone claiming to be from the Internal Revenue Service (IRS)? And after some short introduction, he or she will tell you that you owe them money and you need to pay via a pre-paid debit card or wire transfer?
Given above is a good example of the first type of scam to become aware of. Alfa One Corporation Accounting Solutions called it the “impersonator scam”. The scammer may provide you a fake IRS badge number, or change the caller ID to make it look like he’s really calling from the agency.
In addition, the scam artist might even threaten you with arrest, deportation or suspension of a business or driver’s license if you don’t submit to his terms. He may also say that you’re owed a tax refund. This is an attempt to obtain your private information.
In order to avoid this scam, please keep in mind that the IRS will never request personal or financial information through phone, and won’t ask for payment using a pre-paid debit card or wire transfer.
The second type of scam involves the “phisherman”. Phishing is a fraudulent attempt made through email to steal your personal information. Phishing emails usually appear to come from a well-known organization just like the IRS. The fake emails require you to update your e-file as soon as possible, and include a link to a website aimed at copying the official IRS website.
To avoid this scam, Alfa One Corporation Accounting Solutions suggests that once you receive this kind of emails, you mustn’t reply and don’t open any attachments because they may contain malicious code that may infect your computer or mobile phone. You mustn’t also click on any links on those emails. Forward the email as-is at phishing@irs.gov then delete the original email.
The third type of scam is identity theft. According to Alfa One Corporation Accounting Solutions reviews, identity thieves use your Social Security number to file a tax return and steal your money. They may use various methods in obtaining your sensitive information such as dumpster diving, mail interception, malware, phishing, purse snatching, and shoulder surfing.
Never give your Social Security number out unless it’s absolutely necessary. Also monitor your credit report, and secure your electronic and physical files to prevent this type of scam from happening.
The fourth type of scam to watch out for is the fake charities. Scammers often target taxpayers who are interested in donating to tax-deductible charities after a tragic incident due to natural calamities, etc. You might receive a call for financial information or funds, or an email directing you to a phony website that solicits money to help the victims. Scam artists might even use a name that sounds just like a legitimate charity or claim an affiliation with one. Alfa One Corporation Accounting Solutions suggests that you use the Exempt Organizations Select Check tool at irs.gov to find qualified charities to donate to in order to avoid charity scams. Don’t give your personal information to solicitors and don’t send cash to anyone.
The fifth type of tax scam that you should be careful of is the fraudulent tax preparer. Some scammers pose as tax preparers and promise large refunds. They often target those who don’t have to file and those who don’t speak English, tricking them into claiming phony benefits, rebates or tax credits. They might even file a false tax return in the victims’ names.
Scammers also target those with a filing requirement by promising inflated refunds due to bogus credits and Social Security benefits. They will not give you a copy of your tax return, and might also deposit your money into their bank accounts and deduct a sizable fee before giving you the rest. Alfa One Corporation Accounting Solutions recommends that you should be very careful when hiring a tax preparer, choose someone who asks for proof of income and eligibility for credits and deductions, enters his IRS Preparer Tax Identification Number, provides a copy of your return, and signs your return as the preparer.
Keep in mind the safety tips provided by Alfa One Corporation Accounting Solutions to avoid the top scams of 2015.
Summary: For over two decades, the financial experts of Alfa One Corporation Accounting Solutions have provided a one-stop financial-services source in management of business practice, tax and financial planning, accounting, transition, investment counseling and retirement planning consultancy especially for the dental industry in Malaysia, Tokyo and Hong Kong. Since our company started its operations, dentists have relied on our knowhow, expertise, and experience to help them attain their business and personal objectives with excellent results. Our well-trained staff of Certified Public Accountants, Certified Financial Planners, accountants and bookkeepers are ready to provide dentists the assistance they require on a day-to-day arrangement. We aim to enhance all our clients' financial productivity as well as the quality of life.
This year, incidents of scams have been reported on the news almost every day. So Alfa One Corporation Accounting Solutions provided some tips on how to steer clear of the top scams of 2015 since scammers use different ways every year to try to steal taxpayers’ hard-earned money.
Do you ever experience receiving an unexpected call from someone claiming to be from the Internal Revenue Service (IRS)? And after some short introduction, he or she will tell you that you owe them money and you need to pay via a pre-paid debit card or wire transfer?
Given above is a good example of the first type of scam to become aware of. Alfa One Corporation Accounting Solutions called it the “impersonator scam”. The scammer may provide you a fake IRS badge number, or change the caller ID to make it look like he’s really calling from the agency.
In addition, the scam artist might even threaten you with arrest, deportation or suspension of a business or driver’s license if you don’t submit to his terms. He may also say that you’re owed a tax refund. This is an attempt to obtain your private information.
In order to avoid this scam, please keep in mind that the IRS will never request personal or financial information through phone, and won’t ask for payment using a pre-paid debit card or wire transfer.
The second type of scam involves the “phisherman”. Phishing is a fraudulent attempt made through email to steal your personal information. Phishing emails usually appear to come from a well-known organization just like the IRS. The fake emails require you to update your e-file as soon as possible, and include a link to a website aimed at copying the official IRS website.
To avoid this scam, Alfa One Corporation Accounting Solutions suggests that once you receive this kind of emails, you mustn’t reply and don’t open any attachments because they may contain malicious code that may infect your computer or mobile phone. You mustn’t also click on any links on those emails. Forward the email as-is at phishing@irs.gov then delete the original email.
The third type of scam is identity theft. According to Alfa One Corporation Accounting Solutions reviews, identity thieves use your Social Security number to file a tax return and steal your money. They may use various methods in obtaining your sensitive information such as dumpster diving, mail interception, malware, phishing, purse snatching, and shoulder surfing.
Never give your Social Security number out unless it’s absolutely necessary. Also monitor your credit report, and secure your electronic and physical files to prevent this type of scam from happening.
The fourth type of scam to watch out for is the fake charities. Scammers often target taxpayers who are interested in donating to tax-deductible charities after a tragic incident due to natural calamities, etc. You might receive a call for financial information or funds, or an email directing you to a phony website that solicits money to help the victims. Scam artists might even use a name that sounds just like a legitimate charity or claim an affiliation with one. Alfa One Corporation Accounting Solutions suggests that you use the Exempt Organizations Select Check tool at irs.gov to find qualified charities to donate to in order to avoid charity scams. Don’t give your personal information to solicitors and don’t send cash to anyone.
The fifth type of tax scam that you should be careful of is the fraudulent tax preparer. Some scammers pose as tax preparers and promise large refunds. They often target those who don’t have to file and those who don’t speak English, tricking them into claiming phony benefits, rebates or tax credits. They might even file a false tax return in the victims’ names.
Scammers also target those with a filing requirement by promising inflated refunds due to bogus credits and Social Security benefits. They will not give you a copy of your tax return, and might also deposit your money into their bank accounts and deduct a sizable fee before giving you the rest. Alfa One Corporation Accounting Solutions recommends that you should be very careful when hiring a tax preparer, choose someone who asks for proof of income and eligibility for credits and deductions, enters his IRS Preparer Tax Identification Number, provides a copy of your return, and signs your return as the preparer.
Keep in mind the safety tips provided by Alfa One Corporation Accounting Solutions to avoid the top scams of 2015.
Summary: For over two decades, the financial experts of Alfa One Corporation Accounting Solutions have provided a one-stop financial-services source in management of business practice, tax and financial planning, accounting, transition, investment counseling and retirement planning consultancy especially for the dental industry in Malaysia, Tokyo and Hong Kong. Since our company started its operations, dentists have relied on our knowhow, expertise, and experience to help them attain their business and personal objectives with excellent results. Our well-trained staff of Certified Public Accountants, Certified Financial Planners, accountants and bookkeepers are ready to provide dentists the assistance they require on a day-to-day arrangement. We aim to enhance all our clients' financial productivity as well as the quality of life.
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Review: Alfa One Corporation Complete Accounting and Financial Solutions
With more than 20 years of extensive experience, Alfa One Corporation Accounting Solutions
provides a multitude of financial services, including accounting, investment
counseling, management of business practice, retirement planning consultancy,
tax and financial planning, and transition especially for the dental industry.
Their dedicated professionals are ready to provide dentists the assistance they
needed on a regular basis. The company strives to improve their clients’
financial productivity and quality of life.
Proudly established in Malaysia, Alfa One Corporation Accounting Solutions offers comprehensive accounting and financial solutions to small businesses as well as dental practitioners, that could help them balance financial investment with long-term profitability. The firm also offers its services in several countries in Asia such as Hong Kong and Tokyo, Japan.
The company provides daily monitoring and long-term planning and wealth enhancement to its dental clients, and assists them in bookkeeping, loan management, overhead analysis, tax preparation and wealth-building.
Alfa One Corporation Accounting Solutions became a member of an independently-owned and operated wealth management company known as Alfa One Corporation Wealth Group in 2014. Both companies are devoted to deliver their clients an outstanding experience with their services by assigning them a team of reliable financial experts to work with.
The primary purpose of Alfa One Corporation Accounting Solutions is to become their clients’ trusted financial group of experts with the capability, commitment, and an unwavering drive to achieve excellence. The company’s experts are committed in building a long-term relationship with their clients as well as pursuing excellence in their job.
Throughout the years, Alfa One Corporation Accounting Solutions is generally known for its excellent support to their clients to have the energy and freedom to reach their pursuits in life by providing a complete financial solution that helps them to attain their financial objectives, dreams and aspirations.
“Life means more than possessing wealth.” Alfa One Corporation Accounting Solutions has been with this belief since the very beginning and serves as their steering wheel in driving their clients’ road to success. The company also values growth and teamwork by providing positive work and personal-life opportunities, pursuing financial well-being of their clients, and developing personal and professional enhancement and success.
Aside from the essentials stated above, Alfa One Corporation Accounting Solutions exhibits righteous attitude through trust and humility, generate trust among clients through integrity and empathy, and establish lasting relationships with their clients by always listening to their concerns and communicating with them proactively.
Based on detailed reviews, Alfa One Corporation Accounting Solutions has decades of achievements in financial management. Its professional team possesses a deep reserve of excellent experience in their support staff, and their alliances with Alfa One Corporation Wealth Group. The company’s staff and associates consist of professionals in accounting, employee benefits, financing, individualized financial management, insurance, small business management, and taxation. This multi-discipline method applied in financial planning makes us unique in the industry, thereby allowing our clients to obtain unmatched service and productive solutions.
Alfa One Corporation Accounting Solutions accept client participation and raise it up to a higher level with safe online portals to transmit and receive financial information, and also to communicate with their team online. All of their clients are given an online filing cabinet for accessing information, various reports, and forms. Their services are tailored to provide their clients unrestricted access, individualized progress reviews, and unparalleled client service.
Alfa One Corporation Accounting Solutions began as an accounting firm, but now, it has a much wider scope of services. The end-result is higher productivity for your investments and greater personal financial stability. They take responsibility on the possession of the financial progress of their clients. They take extra efforts through integrating financial planning approaches, asset management, and more into accounting to provide a complete strategy to achieving your financial goals.
The company continues to expand its knowledge and boost its capability to help their clients through the excellent products and services they provide.
Proudly established in Malaysia, Alfa One Corporation Accounting Solutions offers comprehensive accounting and financial solutions to small businesses as well as dental practitioners, that could help them balance financial investment with long-term profitability. The firm also offers its services in several countries in Asia such as Hong Kong and Tokyo, Japan.
The company provides daily monitoring and long-term planning and wealth enhancement to its dental clients, and assists them in bookkeeping, loan management, overhead analysis, tax preparation and wealth-building.
Alfa One Corporation Accounting Solutions became a member of an independently-owned and operated wealth management company known as Alfa One Corporation Wealth Group in 2014. Both companies are devoted to deliver their clients an outstanding experience with their services by assigning them a team of reliable financial experts to work with.
The primary purpose of Alfa One Corporation Accounting Solutions is to become their clients’ trusted financial group of experts with the capability, commitment, and an unwavering drive to achieve excellence. The company’s experts are committed in building a long-term relationship with their clients as well as pursuing excellence in their job.
Throughout the years, Alfa One Corporation Accounting Solutions is generally known for its excellent support to their clients to have the energy and freedom to reach their pursuits in life by providing a complete financial solution that helps them to attain their financial objectives, dreams and aspirations.
“Life means more than possessing wealth.” Alfa One Corporation Accounting Solutions has been with this belief since the very beginning and serves as their steering wheel in driving their clients’ road to success. The company also values growth and teamwork by providing positive work and personal-life opportunities, pursuing financial well-being of their clients, and developing personal and professional enhancement and success.
Aside from the essentials stated above, Alfa One Corporation Accounting Solutions exhibits righteous attitude through trust and humility, generate trust among clients through integrity and empathy, and establish lasting relationships with their clients by always listening to their concerns and communicating with them proactively.
Based on detailed reviews, Alfa One Corporation Accounting Solutions has decades of achievements in financial management. Its professional team possesses a deep reserve of excellent experience in their support staff, and their alliances with Alfa One Corporation Wealth Group. The company’s staff and associates consist of professionals in accounting, employee benefits, financing, individualized financial management, insurance, small business management, and taxation. This multi-discipline method applied in financial planning makes us unique in the industry, thereby allowing our clients to obtain unmatched service and productive solutions.
Alfa One Corporation Accounting Solutions accept client participation and raise it up to a higher level with safe online portals to transmit and receive financial information, and also to communicate with their team online. All of their clients are given an online filing cabinet for accessing information, various reports, and forms. Their services are tailored to provide their clients unrestricted access, individualized progress reviews, and unparalleled client service.
Alfa One Corporation Accounting Solutions began as an accounting firm, but now, it has a much wider scope of services. The end-result is higher productivity for your investments and greater personal financial stability. They take responsibility on the possession of the financial progress of their clients. They take extra efforts through integrating financial planning approaches, asset management, and more into accounting to provide a complete strategy to achieving your financial goals.
The company continues to expand its knowledge and boost its capability to help their clients through the excellent products and services they provide.
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Alfa One Corporation Accounting Solutions’ tips on how to avoid tax scams
Scammers have managed to swindle U.S. taxpayers out of $15 million since 2013 and this crisis is still prevalent nowadays. Alfa One Corporation Accounting Solutions provides important information people should know about some common tax scams and how to avoid them.
Today, it is apparent that tax scams come in different forms, so Alfa One Corporation Accounting Solutions provides the list of these scams and describes each of them with some basic tips on how to prevent them.
A. Suspicious IRS phone calls
Scammers are sharp and witty. They could change or use different caller ID numbers to appear as if they’re calling from the Internal Revenue Service (IRS). Based on scam reviews, scammers often target the most vulnerable individuals such as the senior citizens and new immigrants. They often threaten them with arrest or deportation.
Scammers could recite the last four digits of your Social Security number to gain your trust. They may say that you have a refund due and you need to provide your personal information in order to claim it. They may also demand payments from you and send a follow-up email that appears to be from the IRS, stating that your payments should be made through prepaid debit cards.
Alfa One Corporation Accounting Solutions needs you to remember that the real IRS wouldn’t ask any of your personal and financial information through phone, email, text, or social media. If someone calls and says he or she is an IRS agent and asks you to send money, end the call.
B. Phishing
Scammers may send “phishing” emails that appears to be from the IRS and says that the recipient either owes money or is due a refund. Their purpose is to acquire sensitive information from their victims to steal their identity or their money.
If you receive a suspicious email that looks like from the IRS, or any government agencies, Alfa One Corporation Accounting Solutions suggests that don’t open any of the attachments, and don’t click on the links within each email. This may allow the scammers to collect your personal and financial information, or infect your computer with malicious code.
C. Stolen refunds
Identity thieves could file fraudulent tax returns and claim refunds by stealing your sensitive information such as your Social Security number. The scammers usually file early in the season, which is obviously to outrun you. And when you file, that could be the first time you learn your identity and money has been stolen.
Don’t just give out your Social Security to any strangers. Also, don’t carry your Social Security card or any documents showing your Social Security number or Individual Taxpayer Identification Number (TIN) with you, so that in case of theft or loss, your private information is safe. Just bring them if they’re totally needed.
Alfa One Corporation Accounting Solutions also recommends that you should use firewalls and anti-virus software to protect your computer from being hacked and once an update is available, make sure to download it to guarantee your system’s protection.
Furthermore, always check your credit report every year and your Social Security earnings statement to become familiar if there’s anything unusual happening to your accounts.
D. Dishonest tax preparers
Some tax preparers are honest, others are not. Dishonest tax preparers are sometimes involved in identity theft, tax refund fraud, and other illegal scams. When hiring preparers, make sure they have a Preparer Tax Identification Number (PTIN) for 2015, don’t base their fees on your refund, can e-file returns, are available after April 15, and sign your return.
Never sign a blank or incomplete return since you’re legally responsible for the information. Make sure that there are no errors and that each of your question has been answered before singing it.
E. Hidden money offshore
U.S. tax filers who have offshore accounts and don’t report them may face large fines and penalties from the IRS. Individuals who have fallen for scammers selling an offshore tax scheme are also included in this punishment.
According to Alfa One Corporation Accounting Solutions review, a new set of reporting rules are being phased in under the Foreign Account Tax Compliance Act that will oblige foreign financial institutions to report accounts held by U.S. citizens to the IRS.
F. Promises of bizarre refunds
Scammers pretending to be tax preparers attract clients with promises of unrealistic tax refunds. Most of their victims are people who don’t have a filing requirement, such as low-income individuals or the elderly.
Scammers also target people who are going to file and expect a refund. They will promise to get them a much bigger one by telling them they are entitled to tax breaks they don’t ordinarily take. They may also promise an outsized refund based on fictitious government benefits or rebates.
Don’t fall for this scam because you will not only lose out on the refund you are legitimately owed, but you may also have to pay penalties for filing a false claim and getting a fraudulent refund.
G. Fake charities
The Alfa One Corporation Accounting Solutions suggests that before giving money on charities, you must first confirm its legality. Fake charities use names that appear to be renowned ones, and make sure that their websites looks exactly the same.
If you wanted to make a tax-deductible contribution to a charity, you should pay by check or credit card so that you’ll have a record of the payment. Never give or send cash. The charity should also send your receipt. Please be extra careful when someone asks you to help victims of a natural disaster.
H. Preparers that lie for you
If you allow a tax preparer to understate your income to lower your tax bill, or get you a bigger refund, you might be in big trouble with the IRS. One common way this scam is executed is when a dishonest preparer set up a “corrected” 1099 or W-2 form that claims your taxable income is actually zero.
Don’t allow anyone to convince you into claiming deductions or credits to which you’re not entitled, and never let others file a false return on your stead.
I. Promoters of abusive tax shelter
Don’t fall prey to someone who tries to sell you a complicated scheme that promises to reduce or eliminate your tax bill. Scam promoters create abusive tax shelters wherein they move your income-producing assets into a trust, limited liability company (LLC), limited liability partnership (LLP), international business company (IBC), or foreign financial account.
Once you put your assets into the shelter, a string of complicated transactions is led solely for the purpose of hiding your money from taxes and making it look like you can claim fat deductions, escape self-employment taxes, and shift money out of your taxable estate. Sometimes the taxpayers themselves perform this scam. If you get caught, it could mean large penalties, interest and even criminal prosecution.
J. Big tax credits you don’t qualify for
Cheating on your taxes usually means understating your income. But sometimes a dishonest tax preparer will try to inflate clients’ income. Some people make too little to owe federal income taxes, but may still qualify for a refund by claiming certain refundable credits, like the Earned Income Tax Credit (EITC). Dishonest preparers will report that clients earned more than they did to make sure their clients get the maximum, and they get a bigger fee. If caught, however, tax filers will have to repay the erroneous refund, plus interest and penalties.
K. A pumped up fuel tax credit
For all the gas you buy, chances are good you can’t claim a credit on your 1040 for the federal fuel taxes you paid. Eligibility rules for the fuel tax credit are pretty limited: Do you run a commercial fishing boat or a school bus company? If not, you probably don’t quality. And yet, dishonest tax preparers push the idea. The IRS usually finds deceitful preparers who have enticed sizable groups of taxpayers to erroneously claim the credit to inflate their refunds. Identity thieves also file a fraudulent return for a business or farm to claim the credit.
L. A frivolous tax return
Scammers try to convince fee-paying tax filers that they don’t owe any income tax at all by making frivolous tax arguments such as: filing and paying your taxes are voluntary, you may refuse to pay taxes on religious or moral grounds by invoking the First Amendment, only federal government workers owe income tax, you don’t owe federal income taxes if you file a return saying that you have no income and no tax liability. Taxpayers may contest their tax liabilities, but no one has the right to disobey the law or disregard their responsibility to pay taxes.
Today, it is apparent that tax scams come in different forms, so Alfa One Corporation Accounting Solutions provides the list of these scams and describes each of them with some basic tips on how to prevent them.
A. Suspicious IRS phone calls
Scammers are sharp and witty. They could change or use different caller ID numbers to appear as if they’re calling from the Internal Revenue Service (IRS). Based on scam reviews, scammers often target the most vulnerable individuals such as the senior citizens and new immigrants. They often threaten them with arrest or deportation.
Scammers could recite the last four digits of your Social Security number to gain your trust. They may say that you have a refund due and you need to provide your personal information in order to claim it. They may also demand payments from you and send a follow-up email that appears to be from the IRS, stating that your payments should be made through prepaid debit cards.
Alfa One Corporation Accounting Solutions needs you to remember that the real IRS wouldn’t ask any of your personal and financial information through phone, email, text, or social media. If someone calls and says he or she is an IRS agent and asks you to send money, end the call.
B. Phishing
Scammers may send “phishing” emails that appears to be from the IRS and says that the recipient either owes money or is due a refund. Their purpose is to acquire sensitive information from their victims to steal their identity or their money.
If you receive a suspicious email that looks like from the IRS, or any government agencies, Alfa One Corporation Accounting Solutions suggests that don’t open any of the attachments, and don’t click on the links within each email. This may allow the scammers to collect your personal and financial information, or infect your computer with malicious code.
C. Stolen refunds
Identity thieves could file fraudulent tax returns and claim refunds by stealing your sensitive information such as your Social Security number. The scammers usually file early in the season, which is obviously to outrun you. And when you file, that could be the first time you learn your identity and money has been stolen.
Don’t just give out your Social Security to any strangers. Also, don’t carry your Social Security card or any documents showing your Social Security number or Individual Taxpayer Identification Number (TIN) with you, so that in case of theft or loss, your private information is safe. Just bring them if they’re totally needed.
Alfa One Corporation Accounting Solutions also recommends that you should use firewalls and anti-virus software to protect your computer from being hacked and once an update is available, make sure to download it to guarantee your system’s protection.
Furthermore, always check your credit report every year and your Social Security earnings statement to become familiar if there’s anything unusual happening to your accounts.
D. Dishonest tax preparers
Some tax preparers are honest, others are not. Dishonest tax preparers are sometimes involved in identity theft, tax refund fraud, and other illegal scams. When hiring preparers, make sure they have a Preparer Tax Identification Number (PTIN) for 2015, don’t base their fees on your refund, can e-file returns, are available after April 15, and sign your return.
Never sign a blank or incomplete return since you’re legally responsible for the information. Make sure that there are no errors and that each of your question has been answered before singing it.
E. Hidden money offshore
U.S. tax filers who have offshore accounts and don’t report them may face large fines and penalties from the IRS. Individuals who have fallen for scammers selling an offshore tax scheme are also included in this punishment.
According to Alfa One Corporation Accounting Solutions review, a new set of reporting rules are being phased in under the Foreign Account Tax Compliance Act that will oblige foreign financial institutions to report accounts held by U.S. citizens to the IRS.
F. Promises of bizarre refunds
Scammers pretending to be tax preparers attract clients with promises of unrealistic tax refunds. Most of their victims are people who don’t have a filing requirement, such as low-income individuals or the elderly.
Scammers also target people who are going to file and expect a refund. They will promise to get them a much bigger one by telling them they are entitled to tax breaks they don’t ordinarily take. They may also promise an outsized refund based on fictitious government benefits or rebates.
Don’t fall for this scam because you will not only lose out on the refund you are legitimately owed, but you may also have to pay penalties for filing a false claim and getting a fraudulent refund.
G. Fake charities
The Alfa One Corporation Accounting Solutions suggests that before giving money on charities, you must first confirm its legality. Fake charities use names that appear to be renowned ones, and make sure that their websites looks exactly the same.
If you wanted to make a tax-deductible contribution to a charity, you should pay by check or credit card so that you’ll have a record of the payment. Never give or send cash. The charity should also send your receipt. Please be extra careful when someone asks you to help victims of a natural disaster.
H. Preparers that lie for you
If you allow a tax preparer to understate your income to lower your tax bill, or get you a bigger refund, you might be in big trouble with the IRS. One common way this scam is executed is when a dishonest preparer set up a “corrected” 1099 or W-2 form that claims your taxable income is actually zero.
Don’t allow anyone to convince you into claiming deductions or credits to which you’re not entitled, and never let others file a false return on your stead.
I. Promoters of abusive tax shelter
Don’t fall prey to someone who tries to sell you a complicated scheme that promises to reduce or eliminate your tax bill. Scam promoters create abusive tax shelters wherein they move your income-producing assets into a trust, limited liability company (LLC), limited liability partnership (LLP), international business company (IBC), or foreign financial account.
Once you put your assets into the shelter, a string of complicated transactions is led solely for the purpose of hiding your money from taxes and making it look like you can claim fat deductions, escape self-employment taxes, and shift money out of your taxable estate. Sometimes the taxpayers themselves perform this scam. If you get caught, it could mean large penalties, interest and even criminal prosecution.
J. Big tax credits you don’t qualify for
Cheating on your taxes usually means understating your income. But sometimes a dishonest tax preparer will try to inflate clients’ income. Some people make too little to owe federal income taxes, but may still qualify for a refund by claiming certain refundable credits, like the Earned Income Tax Credit (EITC). Dishonest preparers will report that clients earned more than they did to make sure their clients get the maximum, and they get a bigger fee. If caught, however, tax filers will have to repay the erroneous refund, plus interest and penalties.
K. A pumped up fuel tax credit
For all the gas you buy, chances are good you can’t claim a credit on your 1040 for the federal fuel taxes you paid. Eligibility rules for the fuel tax credit are pretty limited: Do you run a commercial fishing boat or a school bus company? If not, you probably don’t quality. And yet, dishonest tax preparers push the idea. The IRS usually finds deceitful preparers who have enticed sizable groups of taxpayers to erroneously claim the credit to inflate their refunds. Identity thieves also file a fraudulent return for a business or farm to claim the credit.
L. A frivolous tax return
Scammers try to convince fee-paying tax filers that they don’t owe any income tax at all by making frivolous tax arguments such as: filing and paying your taxes are voluntary, you may refuse to pay taxes on religious or moral grounds by invoking the First Amendment, only federal government workers owe income tax, you don’t owe federal income taxes if you file a return saying that you have no income and no tax liability. Taxpayers may contest their tax liabilities, but no one has the right to disobey the law or disregard their responsibility to pay taxes.
Customer support service by UserEcho
