There are reports of much misinformation on social media. Some of this includes lying about someone in a strong competitive position, lying about assets (which is related to tax evasion and other fraud), fake news, and so on. Professionals review information posted on social media accounts such as Facebook and Twitter (now X). Even LinkedIn profiles provide information that could be used for reviewing assets and background.
As an example, my LinkedIn profile includes details on my Lessons Project that was first a hobby that became a "home business." I included information about the hobby on my tax form.
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