Noel B. Lorenzana, CPA

5 Tax Saving Tips for 2019

Tax season can be a stressful time as we think about paying our taxes. Reducing the taxes you owe may be easier than you think and it’s about more than saving money. It can help you to be more giving, provide for your children’s education, run a thriving business, and set yourself up for a better future. Here are 5 of the best ways to save on your taxes in …

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3 Last Minute Moves to Reduce Your 2019 Taxes

Can you believe 2019 is winding down already? If you want to make the most of your taxes this year, here are three things you can do before the year ends (and one even after the year is over.) Maximizing Retirement Contributions One of the best things you can do to reduce your taxes is to contribute to a tax advantaged retirement plan. As the year comes to a close, …

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Tech Tools to Grow Your Business – QuickBooks Online

In the world of tech, there are thousands of tools you can use to make your life easier and there are a few that are a perfect fit for the jobs you need to do. These are the tools of your trade. Then there are software applications like QuickBooks Online. QBO is more than a tool; it’s a toolbelt. In addition to being one of the most powerful…

How Will the New Postcard Form 1040 Affect Your Taxes?

You may remember a lot of speculation and talk about a new simplified tax form that fits on a postcard. Like much of the recent Tax Cuts and Jobs Act that inspired the new Form 1040, the details are still being worked out. The IRS has released draft versions of the new forms for comment but they may still change before tax time. Based on what we’ve seen of the …

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Three Great Ways to Reduce Your Tax Bill

While some taxpayers play the game of questionable tax deductions, many more hesitate to take perfectly legitimate tax breaks because they don’t understand the tax code and are afraid it will trigger an audit. As long as you’ve kept good records and followed IRS guidelines, the possibility of an audit…

Do Your Books Need a Clean Up? Don’t Wait!

Whether you do your own books, have a bookkeeper on staff, or have an outside professional handle it for you, there is always a chance of errors. Data entry errors, missed entries, misclassification, or even a technical problem with your software can cause problems. (Case in point, QuickBooks Online has had a few such errors lately, resulting in duplicate entries that need to be excluded or deleted.) By themselves, these …

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Did Technology Just Replace my Accountant?

Accounting and tax software are getting more advanced. It’s amazing what these programs can do and there is a constant stream of new applications with new, added functions. It makes some people wonder if they even need an accountant…

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