Tech - Linkenheimer LLP CPAs & Advisors

National Cybersecurity Awareness Month Reminder: IRS and Security Summit Online Safety Tips

As National Cybersecurity Awareness Month ends and preparation for next tax season begins, the Internal Revenue Service and its Security Summit partners today reminded taxpayers to be wary of online threats like identity theft and fraud.

Whether shopping online or browsing social media, people unfamiliar with online security could be putting themselves at risk. Lax online behavior can open the door to swindlers eager to swipe people’s personal information and leave themselves vulnerable to tax-related identity theft.

The IRS and Security Summit alert taxpayers to remain vigilant and to teach children and teens how to recognize and avoid online scams to minimize their chances of falling prey or unwittingly exposing their families to identity theft and tax fraud.

The public-private sector partnership encourages everyone to be aware of the many security vulnerabilities they face online and to review a wide range of resources available to them as October’s National Cybersecurity Awareness Month has drawn to a close.

Members of the Security Summit – a coalition that includes tax software and financial companies, tax professionals, state tax administrators and the IRS – also offer multiple online safety recommendations to protect taxpayers from […]

By Linkenheimer LLP|2024-11-05T17:04:11+00:00October 4th, 2024|cybersecurity, Tech|0 Comments

Enhancing Mobile Security for Your Business: Protecting Data on the Go

In today’s fast-paced business environment, mobile devices have become indispensable tools for staying connected and maintaining productivity. From emails to accessing financial data, we rely on our smartphones and tablets to get things done anytime, anywhere. However, with the convenience of mobile technology comes the increased risk of data breaches, cyber-attacks, and compromised sensitive information.

Here are key strategies to enhance your business’s mobile security and protect critical data:

1. Implement a Mobile Device Management (MDM) Solution

Mobile Device Management software helps companies manage, secure, and control mobile devices that access corporate data. MDM enables you to enforce security policies, remotely wipe lost or stolen devices, and monitor for potential threats.

Why It Matters: MDM ensures that sensitive business data remains protected, even if a device is lost, stolen, or used in unsecured networks.
Pro Tip: Implement encryption protocols and require multifactor authentication (MFA) for accessing corporate apps.

2. Regular Software Updates Are Critical

Outdated software can leave mobile devices vulnerable to malware and cyber-attacks. Make sure that both your company-issued devices and employee-owned devices (used for work) are always up to date.

Why It Matters: Cybercriminals often exploit vulnerabilities in outdated software. Regular updates provide essential […]

By Linkenheimer LLP|2024-09-24T21:35:20+00:00September 24th, 2024|Tech|0 Comments

Protect Yourself from Identity Theft with IRS Online Accounts and IP PINs

In today’s digital world, identity theft and fraud are on the rise, especially during tax season and in light of the recent hack of the largest number of social security numbers to date. To help protect taxpayers from these threats, the IRS offers an important tool known as the Identity Protection PIN (IP PIN). Combined with setting up an IRS Online Account, these resources create an extra layer of security that can help safeguard your personal and financial information.

Why You Need an IRS Identity Protection PIN

The IP PIN is a six-digit number that provides protection against tax-related identity theft. It prevents someone else from filing a tax return in your name. The IRS encourages all taxpayers to obtain an IP PIN and establish an online account to ensure their identity and financial data remain secure. While the program is voluntary, it’s a strong line of defense against scammers attempting to steal your identity.

Important things to know about an IP PIN

It’s a six-digit number known only to the taxpayer and the IRS.
The program is voluntary, though it’s strongly encouraged.
In cases of proven identity theft, taxpayers will be assigned an IP […]

By Linkenheimer LLP|2024-09-09T13:51:40+00:00September 9th, 2024|fraud, irs, Tech|0 Comments

Protecting Yourself and Your Employees from Identity Theft and Fraud

In today’s digital age, the threat of identity theft and fraud has never been more prevalent. With cybercriminals becoming increasingly sophisticated, it’s essential to understand the risks and take proactive steps to safeguard your personal and professional information. Recent events, such as the significant data breach that compromised Social Security numbers, highlight the urgency of staying vigilant.

The Growing Threat of Identity Theft

Identity theft occurs when someone illegally obtains and uses another person’s personal information, typically for financial gain. The recent breach, where hackers accessed and possibly stole Social Security numbers, as reported by Yahoo News, is just one example of how widespread and damaging this crime can be. The far-reaching effects of such a breach are alarming, as Social Security numbers are not easily changed and can be exploited by criminals for years to come. This means that even long after the initial breach, individuals may continue to face risks such as fraudulent credit card applications, tax fraud, and other forms of financial exploitation.

Fraud: A Broader Concern

Fraud encompasses a range of activities beyond just identity theft. It includes any deceitful practice intended to secure an unfair or unlawful […]

By Linkenheimer LLP|2024-08-15T17:53:44+00:00August 14th, 2024|fraud, Tech|0 Comments

Business Website Expenses: How They’re Handled for Tax Purposes

Most businesses have websites today. Despite their widespread use, the IRS hasn’t issued formal guidance on when website costs can be deducted.

But there are established rules that generally apply to the deductibility of business expenses and provide business taxpayers launching a website with some guidance about proper treatment. In addition, businesses can turn to IRS guidance on software costs. Here are some answers to questions you may have.

What are the tax differences between hardware and software?

Let’s start with the hardware you may need to operate a website. The costs fall under the standard rules for depreciable equipment. Specifically, for 2024, once these assets are operating, you can deduct 60% of the cost in the first year they’re placed in service. This favorable treatment is allowed under the first-year bonus depreciation break.

Note: The bonus depreciation rate was 100% for property placed in service in 2022 and was reduced to 80% in 2023, 60% in 2024 and it will continue to decrease until it’s fully phased out in 2027 (unless Congress acts to extend or increase it).

Alternatively, you may be able to deduct all or most of these costs in the year the assets […]

By Linkenheimer LLP|2024-07-30T17:28:53+00:00July 30th, 2024|business, deduction, expensing, Tech|0 Comments