Pub. 9 2019-2020 Issue 3

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S September • October 2019 5 1. Use legitimate sites when shopping online There are signs to help indicate that a website is secure, such as “https” in the Web address and an icon of a locked padlock on the left side of the URL. You should also be sure that emails sent to you with promotional links don’t point back toward an altered link, often with one or two letters missing or changed. This could signal a phishing scam, designed to fool you into entering personal information, like your credit card number or your email and password, which may later be used in an attempt to compromise your identity. 2. Use a secure network When shopping online, avoid using a publicWi-Fi connection. Digital personal information that is transmitted over the Internet or stored on your connected devices—such as your driver’s license number, Socia l Secur it y number, credit card numbers and more—could be vulnerable if your network isn’t secure.  Consider installing and using a Virtual Private Network, or VPN. When you connect with public Wi-Fi, a VPN will direct your online activity through a secure, private network. Remember that your phones and computers can be gateways to your personal information, so make sure they are protected with strong passwords containing numbers, letters and symbols. 3. Be careful of what you share online Over-sharing information such as your children’s names and dates of birth or holiday plans can lead thieves lurking on your “friend” list to gain access to valuable information that could help them hack into your online accounts or even know when you’re out of town to attempt to break into your property. 4. Choose cash or credit over debit Credit cards provide more protection against fraudulent activity, since credit c a rd compan ie s usua l ly mon itor suspicious activity and may be able to put a stop to fraudulent charges. Debit cards, on the other hand, immediately withdraw money from your account and don’t offer the same level of protection. 5. Use protection tools Take advantage of protection tools, such as ID theft alerts, enrolling in an identity theft protection company plan, and new chip cards, which add an extra layer of protection for consumers. 6. Be careful when opening new retail credit accounts Many stores offer discounts and incentives to those who open a store credit card account, but it’s important that shoppers remain vigilant throughout the enrollment process. For example, you may be required to write down your Social Security number or other personal informationwhen opening an account. Be sure no one is spying over your shoulder when youdo so, and ask the sales associate how your information will be discarded after it is entered into the system. If you receive promotional offers through email that seem too good to be true, be sure to do your due diligence. You’ll want to make sure these offers are legitimate and secure before submitting any personal information. 7. Be leery of skimmers Remain on the lookout for devices attached to card readers or ATMs that could steal your financial data. Also watch out for anyone behind you in a checkout line that could be snapping a photo of your credit card number or other personal information. 8. Check your statements and credit reports Always check over your credit card statements and credit reports, especially during high-volume shopping periods like the holiday season. Remain vigilant and inquire about any suspicious activity to catch any attempt at identity theft before it escalates. Source: LifeLock Holiday Giving: Tips for Contributing to Your Favorite Charities For many people, it is important to take time during the holiday season to give to those who are in need. Donating to your favorite cause can be fulfilling, but it’s important to ensure that your gift reaches the intended source. Follow these tips to make informed giving decisions this holiday season: Give to an Established Charity Unfortunately, there are fraudulent charities that will take advantage of your goodwill.  To avoid this situation, ask for written information about the charity, including name, address and telephone number. A legitimate charity will give you information about their mission, how your donation will be used and proof that your contribution is tax deductible. Find a charity with a proven track record for providing aid. Designate Your Gift Some charities allow you to specify exactly where your gift is headed, either to a specific orphanage, to purchase school supplies or to a geographic area in need of relief.  By designating or earmarking your gift, you control where your donation goes and whom it helps. A Proactive Giver is a Smart Giver. Wise givers don’t give on an impulse or to the first organization that comes along.  Smart givers take time to identify the causes important to them. Contact a charitable organization, find out their mission and what type of aid and programs they offer.  Work with charities that have targeted outcomes for their giving. Benefits to You: A donor’s primary motivation may be altruism, but everyone knows there are great tax benefits for those who give. A donation to a qualified organization may entitle you to a charitable contribu- tion deduction.  Remember a contribu- tion to a qualified charity is deductible only in the year in which it is paid, and all charities do not qualify for a charita - ble contribution deduction. Always ask for a receipt and save them for tax time. Consider Giving Your Time Four out of five charities report using volunteers.  Volunteers are the founda- tion of many charitable organizations. If you can’t afford to donate money, consider donating your time.  Com- mon volunteer duties include: stuffing envelopes, feeding animals, tutoring, building homes, serving as a museum docent, counseling those in crisis, sell- ing tickets or answering phone calls. n Source- American Bankers Association