Every year, the bad people take advantage of innocent taxpayers, like you who are patiently waiting on their tax returns.  Last year, the IRS noticed a significant increase in phishing attempts to steal money or tax data, therefore everyone should be on high alert.

How it happens: Tax Scams and Malicious Activity

The bad people have a number of tax related tricks up their sleeves when it comes to stealing your money and/or sensitive information.  Here are a few examples of sophisticated tax scams.  That have been in the wild:

• Scammers send emails posing as tax service companies by spoofing emails and using stolen logos.  Once you respond to the email with personal data or tax information, they can pocket your hard-earned money.
• Similar to the scam above, the bad guys send look-alike emails containing hyperlinks that lead you to malicious websites or fake PDF attachments that download malware or viruses to your computer.
• Tax scams are not limited to emails.  Be on the lookout for callers posing as IRS representatives claiming you owe money that must be paid immediately.  The callers typically threaten arrests, deportation or suspension of business or driver’s license.

Keep in mind these are only a few examples and the scam artists are constantly coming up with new ways to fool you. 

How do I know it is a scam.

Always remember the following during tax season and all year long.

• The IRS will always mail a bill before calling you about taxes owed.
• The IRS will never ask for credit or debit card numbers over the phone.
• The IRS will never immediately threaten to arrest you for not paying taxes owed.
• The IRS will always offer the opportunity to question or appeal the amount owed before demanding your payment.
• The IRS does not use emails or text messages to discuss personal tax matters, such as taxes owed or tax refunds.

Be very careful when sharing sensitive information over email.  Make sure the recipient is someone you know.

Blog Post 1: Introduction to Investment Properties

In the ever-evolving world of finance and investment, one avenue has consistently stood the test of time: real estate. More specifically, investment properties. But what exactly is an investment property, and why has it garnered such attention from investors worldwide?

Defining Investment Properties

At its core, an investment property is a real estate property purchased with the primary intention of earning a return on the investment, either through rental income, future resale, or both. These properties can vary widely in type, from residential homes and apartments to commercial spaces, mixed-use buildings, and even vast land parcels.

Unlike a primary residence, which is bought mainly for the owner to live in, investment properties are approached with a business mindset. The end goal? Generating profit.

Types of Investment Properties

1. Residential Properties: These include single-family homes, apartments, townhouses, and other dwellings that are rented out to individuals or families.
2. Commercial Properties: Think office buildings, retail stores, and warehouses. These are spaces businesses lease for operations.
3. Mixed-use Properties: A combination of residential and commercial, these properties might have shops on the ground floor and apartments above, for example.
4. Others: This category can include everything from vacant lands that investors hope will appreciate, to special projects like vacation rentals or even parking spaces.

Looking Ahead

As we dive deeper into the realm of investment properties in this series, we'll explore the intricacies of why real estate remains a top choice for many investors and how you can get started on your own journey. Whether you're a seasoned investor or just starting, there's always more to learn in the dynamic world of real estate.