Running an online business comes with its own set of unique challenges. One of the biggest hurdles? Managing the financial side of the company. From cash flow fluctuations to multi-state sales tax laws, online businessowners must have the accounting strategies in place to navigate daily operations with confidence. Here are six best practices to ensure […]
Archives for January 2025
Magone & Company, P.C. Successfully Passes Accountant Peer Review
Magone & Company, P.C. — a leading provider of accounting services — is pleased to announce that it has successfully passed its latest accountant peer review. This achievement underscores the company’s commitment to maintaining the highest standards of professionalism and excellence in accounting practices. The peer review, conducted by Martini & Martini CPA, PA, […]
Small Businesses Get Big Benefits from SECURE 2.0 Retirement Provisions
The federal SECURE 2.0 legislation was designed and enacted to improve retirement readiness for more American workers. This legislation aims to make it more affordable and attractive for small employers to provide valuable retirement benefits to their employees by offering enhanced tax credits that can significantly offset the costs of starting and maintaining a plan. […]
Active Income vs. Passive Income: Breaking Down the Tax Consequences
Working hard for the money or letting the money work hard for you? That’s the main difference between active and passive income. Active income typically comes in the form of your wages earned from working a job or running a business. Passive income includes sources you don’t actively work for, like rental income, investments, shareholder […]