Month: February 2023

6 Tips to Help Small Business Owners Manage Their Taxes Easily

Home Business Magazine Online

Taxes can be a huge burden for small business owners. Managing taxes can be tricky and time-consuming, but any small business owner can make their taxes easier to work with the right strategies. Here are several tips from expert Troy Renkemeyer to help make tax management easier for small business owners.

Know Your Tax Obligations

The first step to managing your taxes as a small business owner is knowing your tax obligations. It’s essential to understand which taxes apply to the business, when you should do them, and how much you should pay. Familiarizing yourself with these details can help you stay in compliance and prevent any costly penalties from government agencies.

To ensure you stay informed about the latest developments in taxation for your business, consider running regular checks on updates related to taxation laws or consulting with an accounting professional. Taking the time now to stay on top of this critical part of managing a business will certainly pay off in the future.

Set Up Systems

Small business owners should take the proper steps to manage their taxes efficiently. One of the most effective approaches is setting up systems to help keep track of income and spending. Automated tracking of transactions and filing papers can help avoid chaotic searching during tax time.

Developing a plan to enter expenses and income into spreadsheets allows easy access to financial statements or filing when needed. Business owners should have files specifically for tax-related documents; this allows quick retrieval if an audit occurs. Systems like these help small business owners manage their taxes more efficiently throughout the year and simplify filing.

Take Advantage of Tax Deductions

Taking advantage of all the applicable tax deductions for small business owners can help reduce their overall tax bill. Knowing which deductions and allowances are available can save tremendous money over time.

Some examples include car expenses, entertainment costs, travel expenses, staff training courses, health insurance plans, home office expenses, utilities, rent, and many other costs. It’s critically important to keep all related receipts to ensure any deduction is valid and appropriately justified when the time comes for filing taxes.

By taking full advantage of these allowed deductions, small business owners can significantly decrease their taxable income resulting in money saved on taxes!

Use Professional Help When Needed

Even if you have the knowledge and experience necessary to file and manage your taxes, it may be best to seek professional help from an accountant or CPA (Certified Public Accountant). Tax professionals understand the ins and outs of filing annual returns and can save you both time and money in the long run.

Professionals may also offer proactive measures such as establishing an installment plan for paying income tax debts over the year or performing quarterly reviews to ensure you comply with all relevant regulations.

Make Estimated Payments on Time

If you owe estimated payments throughout the year (which most self-employed individuals do), make sure these payments are made on time to avoid penalties or interest charges from the IRS (Internal Revenue Service). Doing this will ensure that you don’t have any surprises later down the line when it comes time to file your return or pay any remaining balances due.

Stay Updated on Tax Laws

Staying abreast of the constant changes in tax law is critical for small business owners who want to ensure they are not subject to financially damaging penalties. The best way to stay current on all changes is by regularly reviewing official websites, such as the Internal Revenue Service (IRS), to access available updated resources.

Additionally, subscribe to newsletters from reputable sources and follow experts on social media who specialize in taxation topics. These methods can alert small business owners of changes affecting their businesses so they can adjust their filing parameters accordingly. Investing time into staying up-to-date on tax laws can provide considerable savings in the long run.

Final Thoughts

Staying organized is critical when managing taxes as a small business owner. With these tips from Troy Renkemeyer in mind, managing taxes can become more manageable. You’ll find yourself meeting your tax obligations more efficiently in no time!

The post 6 Tips to Help Small Business Owners Manage Their Taxes Easily appeared first on Home Business Magazine.

Original source: https://homebusinessmag.com/money/taxing-times/6-tips-help-small-business-owners-manage-taxes-easily/

Using Margin Finance to Fund Your Business – What You Should Know

Home Business Magazine Online

You can increase your buying power by borrowing money. It is one of the most efficient ways for those who want to buy priced items such as properties that they cannot afford with cash. However, very few people know that they can do that using stocks.

As an investor, you can increase your buying power using stocks. You can also fund your business and do many other things using stocks. This, however, depends on your balance and the type of brokerage account you have.

This leads us to margin trading. Financial experts refer to it as leveraging your capital. However, is margin trading a good idea? Should you use margin finance to fund your business?

Here is what you should know;

What Is Margin Finance?

Margin finance can be defined as the collateral deposited by an investor with their exchange or broker and used to cover the investor’s credit risk for the exchange or broker. Investors create credit risks when they borrow money from brokers for different purposes, maybe funding their businesses.

If you have heard about margin finance, chances are high that you have also heard about buying on margin. This is what happens when you borrow part of the required money from a broker. You make the initial payment to a broker and then use marginable securities as collateral.

Margin finance is used when buying an asset that you cannot afford. Some investors use it to fund their businesses. Depending on what you want to do, it is important to understand the risks and benefits of borrowing on your existing securities.

Example of Margin Finance

Let us assume that you have $50,000 in your investment portfolio. You want $10,000 to fund your business. Unfortunately, you do not have this money. Looking at other borrowing options, you find that they are expensive and would not make sense.

You, therefore, decide to go for margin lending. Through your margin account, you withdraw $10,000 to fund your business.

By doing this, you will get the money you need to fund your business. In addition, then $10,000 remains as an investment in your portfolio. You will not miss out on any market returns since your securities remain intact.

Getting a Margin Loan

You will need to open a brokerage margin account before using margin finance to fund your business. In addition, you will also need a specific minimum equity in the account. This allows you to borrow against your investment portfolio.

However, it is important to note that your securities have to be marginable for you to use them as collateral. Different brokerages have different terms and conditions for margin finance.

This might include things like the portfolio value percentage one can borrow, equity requirements, and marginable securities.

Benefits of Borrowing on Your Existing Securities

Borrowing on your existing securities comes with more flexibility especially on repayment compared to mortgages, personal loans, or fixed-term loans. It allows you to gain liquidity without affecting your existing investment portfolio.

Looking at the example discussed above, for instance, you can fund your business while still retaining your portfolio. You get the money you need for your business without affecting your securities. Your investment objectives remain on track even though you borrowed money against your securities. It also helps you avoid catastrophes when investing your money.

Borrowing on your existing securities increases your buying power. With margin finance, you can invest more money than you can afford. If, for instance, you want to invest in high-share-priced stocks, then margin finance might be the only way for you.

It also allows you to diversify. If you decide to use cash, you might be able to invest in a few stocks. However, if you borrow on your existing securities, you can buy many stocks without liquidating your existing portfolio. This allows you to spread your risks.

Risks of Borrowing on Your Existing Securities

No matter how good a financial product might look, it must have some risks. One of the notable risks of borrowing on your existing securities or margin finance is a margin call. It is also referred to as a maintenance margin call.

Depending on the market, you might find yourself in a situation where the value of your portfolio’s securities fluctuates. When this happens, the value of the money you have borrowed against your existing securities does not change.

When your portfolio’s value falls to a certain point, you might have your brokerage issuing a margin call. This requires you to increase your marginable securities or add money to your margin account in a bid to get your equity to the required or accepted level.

You, therefore, need to keep checking your margin loans since they increase your risk levels. Your portfolio’s value can fall or rise depending on the market. In case of a fall, you might be forced to sell your securities, buy more eligible securities, or deposit cash into your margin account. This makes margin finance suitable for short-term investments.

Is Margin Finance the Best Option?

A bigger percentage of business owners borrow money to fund their businesses. They find themselves in situations where they need funds that they do not have in cash. When this happens, they can borrow considering things like good interest rates, repayment terms, and easier access to funds. Margin finance is the best bet for business owners.

The post Using Margin Finance to Fund Your Business – What You Should Know appeared first on Home Business Magazine.

Original source: https://homebusinessmag.com/business-start-up/raising-money/using-margin-finance-fund-business-know/

The Benefits of In-Person Events for Remote Companies

Home Business Magazine Online

By Amanda Reseburg

During the pandemic, remote work became quickly became standard practice across many parts of the world. According to studies, 56% of global companies allow for some remote work, whereas 16% are now entirely remote. The pandemic impacted the ability of many teams to gather in person, but now that remote work is far more accepted, some are finding that disconnect persisting.

But even if a company is 100% remote, they do not have to sacrifice in-person events that can help with team building and company growth. When a company dedicates itself to being intentional about bringing its remote employees together, it can build some incredibly beneficial (and fun) in-person opportunities.

Bringing people together

Shiela Mie Legpasi, President of the all-remote company Cyberbacker, knows the myriad of benefits of remote work. After all, it was going remote that changed her life’s trajectory.

“When I was presented with the opportunity to work remotely from home, it changed the structure of my entire life,” Legpasi shares. “Working remotely has allowed people like myself to support their families while remaining present for children.” Maintaining a remote workforce is also cost-effective for companies and opens up options for a workforce in a labor-shortage climate.

However, as anyone who works remotely can tell you, the connection with one’s coworkers can be challenging in a remote environment. Where once we could team-build and foster connections with each other face-to-face, a shift to a remote workplace has left some wondering if there is a place for the in-person event anymore.

To Legpasi, any work situation needs a measure of balance — or, as she says, counterbalance — to work effectively for all parties. Investing in in-person opportunities for remote employees could give those employees some of that balance they may be looking for.

According to recent research, 62% of remote workers felt that limited social interaction with their coworkers negatively affected their mental health. To find this counterbalance, many companies are extolling the benefits of in-person events.

The benefits of face-to-face

When your company team is spread all over the country or even worldwide, it can seem nearly impossible to gather them all together in person on a regular basis. Yet, many companies are making an effort to do at least one “all-hands” meeting a year. Annual meetings allow teams that work remotely with one another to meet face-to-face, interact, let their hair down, and share bonding time.

For CEOs, in-person meetings and events allow for timely business decision-making, foster more strategic thinking, and also help boost the economy through travel and hosting money spent in various locations. As productive as people are remotely, and as much as remote work can help with retention, there really is no substitute for a friendly handshake, a dinner with coworkers after a day of productive meetings, or bending the ear of the company CEO in person. While Cyberbacker has mastered replicating interpersonal communication through Zoom and popular text-base communication platforms like Slack, Legaspi emphasizes that in-person meetings are still crucial to their culture when possible.

With all of the benefits of in-person events and meetings, it would behoove even the most ardent remote work supporters to consider planning an in-person meetup, even if it is only annually.

One of the biggest wins for remote workers is the chance to get back some semblance of balance in their lives. Whether that be structuring a work-from-home schedule that works better with their family schedule or if it’s a job that gives them a chance to do some hybrid work in the office and at home.

Whatever the workplace structure, the value of in-person meetings and events is clear. As Legpasi stresses, it is all a part of a workplace that recognizes the need for balance.

“Sometimes, the necessary work requires one to come in early, work late, or work during the weekends,” she explains. “As a counterbalance, vacation time is widely available, and I can completely focus on my family during that time. Leaders will tell you that you will fail if you lean too far one way or the other. Burnout will be inevitable.”

Final thoughts on in-person events

With employee retention and avoiding burnout high on the priority lists of leaders, giving credence to the need for valuable in-person interaction with flexible remote work time is essential. It could go a long way toward creating a healthy and happy work environment for all.

About the Author: Amanda Reseburg has been a freelance journalist since 2016, with work featured in Scary Mommy and the Beloit Daily News. She was a creative entrepreneur for 13 years and founded her own hospice photography volunteer program, profiled by PBS. She lives in Orlando with her husband and three children.

The post The Benefits of In-Person Events for Remote Companies appeared first on Home Business Magazine.

Original source: https://homebusinessmag.com/management/employees/benefits-in-person-events-remote-companies/

Microsoft proposes AI ads in Bing

During a recent private meeting with a leading ad agency, Microsoft presented a demo of the updated Bing and revealed its intention to permit paid links within search result responses, according to an anonymous ad executive who attended the meeting.

Big plans for the future. Microsoft anticipates that the Bing AI chatbot’s more human-like responses will attract a larger user base for its search feature, resulting in an increase in advertisers. Additionally, advertisements incorporated within the Bing chatbot may have a greater presence on the page compared to typical search ads.

According to an ad executive who attended the meeting, Microsoft is currently experimenting with ads in the initial version of the Bing chatbot, which is accessible to a restricted number of users. Reuters has also reported seeing such ads this week.

Microsoft stated that it is incorporating conventional search ads – a form of advertisement where companies pay to have their websites or products displayed on search results for keywords relevant to their business – and integrating them into responses produced by the Bing chatbot.

What Microsoft says. Nothing. Microsoft declined to comment on the specifics of its plans.

The new Bing. Microsoft’s redesigned Bing search engine, which has a waitlist of millions of people seeking access, presents a highly profitable prospect for the company. In an investor and press briefing held last week, Microsoft announced that each percentage of market share it captures in the search advertising market has the potential to generate an additional $2 billion in advertising revenue.

Users who have tried the new Bing experience say that it’s lightning fast and better than expected. But some are also experiencing erratic, gaslighting, and somewhat emotional responses from Sydney (the ChatGPT AI).

Why we care. Microsoft’s plans to monetize its revamped Bing search engine and chatbot has the potential to expand its target audience and provide them with more prominent ad placement on the page.

The Bing chatbot’s more human-like responses could attract a larger user base, resulting in increased exposure for ads displayed within the chatbot. Additionally, the integration of conventional search ads into the chatbot’s generated responses can provide advertisers with an opportunity to reach a wider audience while also having their ads displayed more prominently on the page.

Microsoft’s plans to capture a greater market share in the search advertising market could also signify increased competition for Google, giving advertisers another avenue to explore for their advertising campaigns.

The post Microsoft proposes AI ads in Bing appeared first on Search Engine Land.

Original source: https://searchengineland.com/microsoft-proposes-ai-ads-in-bing-393301

Google warns against using 403 or 404 status codes for Googlebot crawl rate limiting

Google is warning against using 404 and other 4xx client server status errors, such as 403s, for the purpose of trying to set a crawl rate limit for Googlebot. “Please don’t do that,” Gary Illyes from the Google Search Relations team wrote.

Why the notice. There has been a recent increase in the number of sites and CDNs using these techniques to try to limit Googlebot crawling. “Over the last few months we noticed an uptick in website owners and some content delivery networks (CDNs) attempting to use 404 and other 4xx client errors (but not 429) to attempt to reduce Googlebot’s crawl rate,” Gary Illyes wrote.

What to do instead. Google has a detailed help document just on the topic of reducing Googlebot crawling on your site. The recommended approach is to use the Google Search Console crawl rate settings to adjust your crawl rate.

Google explained, “To quickly reduce the crawl rate, you can change the Googlebot crawl rate in Search Console. Changes made to this setting are generally reflected within days. To use this setting, first verify your site ownership. Make sure that you avoid setting the crawl rate to a value that’s too low for your site’s needs. Learn more about what crawl budget means for Googlebot. If the Crawl Rate Settings is unavailable for your site, file a special request to reduce the crawl rate. You cannot request an increase in crawl rate.”

If you can’t do that, Google then says “reduce the crawl rate for short period of time (for example, a couple of hours, or 1-2 days), then return an informational error page with a 500, 503, or 429 HTTP response status code.”

Why we care. If you noticed crawling issues, maybe your hosting provider or CDN recently deployed these techniques. You may want to submit a support request with them to show them Google’s blog post on this topic to ensure they are not using 404s or 403s to reduce crawl rates.

The post Google warns against using 403 or 404 status codes for Googlebot crawl rate limiting appeared first on Search Engine Land.

Original source: https://searchengineland.com/google-warns-against-using-403-or-404-status-codes-for-googlebot-crawl-rate-limiting-393303

Buy-Now Pay-Later Firms to Face New Legislation

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Buy-now pay-later firms to face new legislation.

The government has announced eagerly awaited plans to regulation ‘buy-now pay-later’ (BNPL) companies. BNPL allows consumers to buy goods and services and pay for them later in instalments. These are typically interest free instalments, which appeals to many shoppers. 

However, there are concerns about people falling into debt when using these schemes, particularly as the cost-of-living crisis rattles on. Users of BNPL firms are not entitled to breathing space if they cannot repay their instalments. Similarly, they are not entitled to compensation, should anything go wrong.  

The Treasury has said up to 10 million people would be protected from potential financial harm as the result of the new measures.  

In a bid to stop unconstrained borrowing, lenders will now have to do more thorough checks on borrowers. These include more in-depth affordability checks and offer clearer information on loans. Customers will also have the power to make complaints about BNPL firms to the Financial Ombudsman. 

BNPL has soared in popularity in recent years, however they have remained largely unregulated. The government first proposed regulation to BNPL back in 2021, and it has been long-awaited legislation. 

New rules for bnpl

Under the new legislation plans, the Financial Conduct Authority (FCA) will be given powers to clamp down on firms who break rules. Previously, the FCA have had to rely on consumer rights laws in the absence of specific legislation when BNPL firms have not followed specific rules or are deemed to have treated customers unfairly. 

The new rules will also mean firms must be licensed by the FCA. Tougher advertising rules would also come into place, and the FCA will also have the power to ban companies from further lending should they break the rules. 

The new laws are expected to come into force before the end of the year. 

The post Buy-Now Pay-Later Firms to Face New Legislation appeared first on MoneyMagpie.

Original source: https://www.moneymagpie.com/make-money/buy-now-pay-later-firms-to-face-new-legislation

7 hacks to keep food fresher for longer

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HelloFresh feed a family campaign

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Did you know, most food waste within the UK comes from within your home? You may think it’s the large corporations and supermarkets creating the most waste, but in fact, individual households cause the majority of food waste. We all need to find ways to keep food fresher for longer and prevent this waste.

In the UK alone, 6.6 million tonnes of food are wasted every single year. This costs £284 per person, per year. That’s almost £300 which could be put towards bills, rent or mortgage payments. Even more shockingly, in the US, 31.9% of food bought is wasted, costing $1,866 annually per household – that’s about £1,522!

As the cost-of-living crisis rages on, it’s more important than ever to keep your food fresher for longer and ensure we are using all the food we buy. Not only will this prevent waste but save us precious pennies.

Here are 7 top hacks to help you keep food fresher for longer. Some of them may surprise you!

 

Use vinegar on your berries

This slightly weird, but wonderful hack comes from TikTok user @westwing. In a viral video, they suggest washing your berries in diluted vinegar. This keeps your berries fresher for up to two weeks, without compromising the flavour of the berries. Give it a go and see if it works!

 

Keep veggies crunchy

Appliances, Tools & Housewares (NEC)

Another hack from the same TikTok user suggests putting vegetables such as celery, peppers and carrots straight into the fridge when unpacking your food shop is a huge no-no. Wash your veggies before placing them into an airtight container or Tupperware with a small amount of fresh water in them. This will keep your produce crunchy and fresh for up to a month!

This prevents waste from a half-eaten pepper or avocado. Simply wash the remainder of the food item, pop it in your container and voila, no more grey avocados or squishy celery.

 

Herb swaddling

Yes, this method does involve wrapping up and swaddling your herbs like a precious newborn. But it is totally worth it for saving your herbs and boosting their life span. It’s simple, too.

Herbs often don’t last long at all, and it can be totally frustrating opening the fridge to wilted basil and rotting coriander. Remove any rubber bands or plastic ties from your herbs, run them under the tap and place them on a clean, dry tea towel or some kitchen roll. Once your herbs are dry, wrap them in damp paper towel and place them in a plastic zip lock bag or container. Your herbs will stay fresher for longer.

 

Keep your biscuits fresh

Berry

One of the most heart-breaking moments in life is when you go to the biscuit tin, excited to munch on a custard cream whilst you have your cuppa, only to find your biscuits have gone stale. But don’t fear, stale biccies are a thing of the past, thanks to TikTok user @lifetipsing.

This hack suggests putting a slice of bread in your biscuit tin – a good way to use the heel of your loaf of bread if you aren’t a fan of eating it. The science behind this? The biscuits will draw moisture from the bread, keeping them softer for longer. No more hard-as-a-rock cookies when you have your morning tea.

 

Give your basil a new lease of life

As previously mentioned, herbs can be super hard to maintain. But popping your cuts of basil in a small pot of water, as you would a bouquet of flowers, keeps it going for longer. Refresh the water in the pot every few days, and you’ll be adding your basil to spag bols, risottos and pesto for a while to come.

 

Protect your potatoes

Condiments

Do you buy potatoes but never use them fast enough? Do they sprout and turn green before your eyes? Well, you are in luck, because TikTok user @thismumcooks has an amazing hack for you.

Peel and chop your potatoes. You may choose to cut some into chips, wedges or even for use as roast potatoes down the line. Par boil your tatties, then allow them to cool. Once cool, place them on a baking tray and freeze them. Once your potatoes have frozen, pop them into freezer bags, ready to use at dinner time or with a Sunday lunch.

 

Fruit spray

Homemade fruit spray is a quick, easy and cheap method of keeping your fruit fresher for longer. Apples will be crispy and juicy for longer, so no more mushy fruit. Simply combine 230ml of water with 230ml of vinegar and a few drops of lemon juice. Spray on your fruit to keep it fresher for longer and maintain that recently bought aesthetic for your fruit bowl.

 

What are your favourite tips for keeping food fresher for longer?

The post 7 hacks to keep food fresher for longer appeared first on MoneyMagpie.

Original source: https://www.moneymagpie.com/make-money/7-hacks-to-keep-food-fresher-for-longer

Susan Wojcicki, the CEO of YouTube, is stepping down

Susan Wojcicki, one of the longest-serving Googlers is stepping down as the CEO of YouTube after nine years in that role and 25 years at Google. In her personal update blog post she said, “after nearly 25 years here, I’ve decided to step back from my role as the head of YouTube and start a new chapter focused on my family, health, and personal projects I’m passionate about.”

Over her 25-year career at Google, she “managed marketing, co-created Google Image Search, led Google’s first Video and Book search, as well as early parts of AdSense’s creation, worked on the YouTube and DoubleClick acquisitions, served as SVP of Ads, and for the last nine years, the CEO of YouTube,” Susan Wojcicki wrote.

Susan took the CEO of YouTube role in 2014 when Google did a large executive restructuring. Four years prior to that, Susan was promoted as Senior Vice President at Google, one of eight Googlers at that time with that title.

Neal Mohan. Neal Mohan will be taking over as the Senior Vice President and new head of YouTube. Neal came to Google in 2007 when Google acquired DoubleClick for $3.1 billion. Neal became the SVP of Display and Video and later became YouTube’s Chief Product Officer in 2015.

YouTuber’s thoughts. Here are some thoughts from well-known YouTubers on this change:

Why we care. YouTube is an important platform, not just for consumers and not just for creators but also for advertisers. It will be interesting to see if anything significant changes across the Google Ads platform with this leadership change.

Susan Wojcicki has been one of the constants at Google and now that is coming to and end.

The post Susan Wojcicki, the CEO of YouTube, is stepping down appeared first on Search Engine Land.

Original source: https://searchengineland.com/susan-wojcicki-the-ceo-of-youtube-is-stepping-down-393242

Find the balance between privacy and personalization with first-party data by Cynthia Ramsaran

Business Finance

It’s an ongoing dilemma. Customers demand privacy and control over their data, but businesses strive for personalization to improve customer engagement and drive sales. The rise of first-party data can help balance both of these goals.

Join this live webinar and hear from OneTrust’s Consent and Preference Management expert, who will share best practices and actionable insights on leveraging first-party data to drive customer engagement and sales while ensuring privacy and compliance.

Register today for “Balance Privacy and Personalization with these First-Party Data Strategies,” presented by OneTrust.

Click here to view more Search Engine Land webinars.

The post Find the balance between privacy and personalization with first-party data appeared first on Search Engine Land.

Original source: https://searchengineland.com/find-the-balance-between-privacy-and-personalization-with-first-party-data-393255

Scammers target Turkey-Syria earthquake: How to spot a fake appeal

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Scammers target Turkey-Syria Earthquake appeal: How to spot a fake appeal 

Sadly, scammers will always take advantage of global events, especially when natural disaster or war has occurred. They use people’s good will to profit from heartbreak and suffering. Although it may seem a sickening thing to do for most of us, there are cruel people out there. 

Currently, fraudsters are latching onto the devastation of Turkey-Syria earthquake to trick people into donating to fake appeals. 

The scams often claim to be raising money for survivors and those in need, however the money is funnelled away from real charities helping people, and putting the cash into their own pockets. 

The disasters have killed more than 35,000 people, with thousands of survivors left without heat, water, food, their homes and their loved ones. That is why it’s imperative to make sure you are donating to a real cause, so financial aid can be used honestly. 

Here are some of the scams to look out for and how to spot a real appeal. 

 

Twitter

Social media platforms can be used for good when raising money, as large audiences can be reached instantly. However, they can also be used to exploit tragedy, with fraudsters quick to con people. 

On Twitter in particular, people are sharing images of the devastation, with links to cryptocurrency wallets. The emotive images, alongside text asking for donations, could be a trap. 

According to the BBC, many of the images are not even real, with multiple images having been generated by AI, particularly pictures of firemen and other emergency service people holding young children as if they have been rescued. This AI-generated content makes it easy for people to appeal for money, without using photos directly from the event. 

Some of these Twitter accounts have been spamming their pages with links to crypto wallets and PayPal. Many of the links were found to have been used on twitter during times of devastation previously, suggesting the scammers are using the same links for different world events, claiming they are for a specific cause. 

 

PayPal

Many Twitter users are also directing people to donate to the cause directly through PayPal. Scammers are creating fake fundraising accounts with links to PayPal accounts, which often turn out to be their own personal PayPal accounts. 

Some PayPal fundraisers have raised hundreds in donations already. It is key to notice whether the fundraising page themselves has donated to the cause – if so, this could be to make the account to be legitimate. 

It is imperative to note that PayPal has not operated in Turkey since 2016, and any accounts claiming to be in Turkey are likely not authentic. 

 

TikTok

Video-sharing platform TikTok is one of the most downloaded and used apps across the globe. During a TikTok Live, a real-time, live video in which content creators can interact with their followers, they can make money buy receiving gifts from viewers. 

However, this is being used by con artists, who are looping videos of the devastation and news clips covering the events and asking for donations. This is just another way scammers are using emotive visual imagery to get people to hand over their money. 

Some videos even consist of images from the recent earthquakes – well, so you’d believe. The BBC conducted a reverse-image search and found one of the images was first shared on Twitter in 2018. 

turkey-stria earthquake donate

How to donate safely

Although there are cruel people out there trying to profit from disasters through fake relief pages and fundraisers, this shouldn’t stop you from donating to a real charity or fundraiser, should you wish to help. 

It is important you look up charities before donating to them, particularly smaller or lesser-known ones. You can search the UK charity register. If you suspect a scam or uncover what you believe to be fraudulent activity, report it to Action Fraud and to the social media platform so they can remove it. 

Be aware upsetting and distressing images, videos, sounds and language are used to encourage donations. Take a step back before donating and do your research. Do not rush into anything. 

If you choose to donate to a charity or to the governments of the countries affected, research them directly. There are many fake social media accounts claiming to be associated with different charities and organisations – donating directly can avoid your money going into a scammers pocket. 

If someone calls you asking you to donate, ask lots of questions. A genuine charity or organisation will be more than happy to answer any questions you have and take the time to go through your concerns. If a caller seems impatient and eager to get your donation, hang up. Always hang up if you are unsure. 

You can find other ways to help the Turkey-Syria earthquake relief via the government website. Click here. 

The post Scammers target Turkey-Syria earthquake: How to spot a fake appeal appeared first on MoneyMagpie.

Original source: https://www.moneymagpie.com/make-money/scammers-target-turkey-syria-earthquake-how-to-spot-a-fake-appeal