My name is Noel B. Lorenzana. I’m a Registered CPA, licensed in Illinois with over 25 years of real-world experience. I have a wealth of experience on taxes, business and technology, that I would like to share with you. I enjoy helping small business owners modernize their accounting, and use technology to maximize their business profits.
Leveraging the right tools and strategies can make a massive difference in how efficiently you run your company. Tech-savvy business owners are saving money and time, while also allowing themselves more flexibility and solving problems that would have been very hard to address a decade ago. Sadly, those who are hesitant to take advantage of technology will miss out and may find it difficult to compete.
The goal of my blog is to show you how current technology and internet-based applications can help you grow without compromising the quality of your business. These tools can help you access a wealth of data about your business, and the ability to easily and quickly share that data with your team. You can then leverage that information into proactive decisions. If you follow this advice, I strongly believe your overall life will improve and your business is about to take a leap forward.
The goal of this book is to show you how current technology and internet-based applications can help you grow your business without compromising quality.
You will learn about:
• Going Paperless, Apps, and Cloud-Based Accounting
• How to Modernize your Accounting System
• Security Practices for Online Accounting
• Creating Leverage by Outsourcing
• Accounting Concepts that Make Sense
• How to Audit-Proof Your Business
• Finding a Tech-Savvy Accountant
• Understanding Financial Statements
• And More
As part of President Trump’s tax reforms, meals and entertainment deductions are changing. These deductions have been very common for all sizes of businesses for years. Taking a client to lunch or out to an event to discuss a deal, bringing lunch in for employees, or feeding the team during an office party seem like business as usual. With the new…
There are various types of tax return preparers, including certified public accountants, enrolled agents, attorneys, and many others who don’t have professional credentials. You expect your preparer to be skilled in tax preparation and to accurately file your income tax return.
Are Bitcoin Profits Taxable? As tax season approaches, it may not be immediately clear how the IRS imposes taxes on Bitcoin: Are the profits income? Are they capital gains or something else entirely?
The Senate and the House of Representatives have passed the Tax Cuts and Jobs Act, which contains many provisions that likely affects you. Keep in mind that all changes affecting individuals expire after 2025, and would then revert to current law. Between now and then, expect continued changes as
The Senate and the House of Representatives have passed separate versions of the Tax Cuts and Jobs Act lauded by President Trump. This leaves us with two tax reform bills that need to be reconciled before being sent to the president for final approval. Most sources expect…
The end of the year is fast approaching and now is the time to start your tax planning. The good news is that no major tax law changes took place this year. However, taxpayers may see some changes next year, as President Trump has tax reform as one of his top priorities. Here are five year-end tax strategies for 2017 that can significantly lower your tax bill. If you wait …
Bitcoin prices are booming along with most other crypto-currencies. If you own or trade Bitcoin. you are likely sitting on profits. Today I’m going to talk about how and why you should pay taxes on your Bitcoin profits.
I took a business trip to Florida with my family. What travel expenses can I deduct?
For the self employed entrepreneur and small business owner, as long as the trip was primarily for business, the costs of meals, lodging, transportation and other related business travel expenses are ordinarily deductible…
The U.S. Tax Code is constantly changing and 2017 brings 5 worthless tax changes that you may want to remember when filing your taxes. Keep in mind these tax changes affect the tax preparation you will do in 2018 for the calendar year 2017.