When’s the best time to lower your tax bill? Hint: It’s not April. It’s right now. 2025’s One Big Beautiful Bill brought significant business tax changes, opening up several strategies worth reviewing before year-end. And the sooner you plan, the more you might be able to save. Consider setting up a tax-favored retirement plan. Contributions […]
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6 Identity Theft Prevention Tips
At Magone & Company, we’ve seen firsthand how devastating identity theft can be for individuals and their families. Your personal and financial information is constantly at risk, facing relentless threats and increasingly sophisticated schemes. The good news? There are many preventive measures you can take to significantly reduce your vulnerability. Here are some simple strategies […]
Tax Audit 101: Your No-panic Guide to Dealing with the IRS
Getting notified of an IRS audit is undoubtably a stressful experience for taxpayers. Why was your return selected? What documents will they request? How can you prepare for the scrutiny of your financial records? By understanding the ins and outs of audits, you can ease your mind and ensure the process is as painless as […]
Best Accounting Practices for an Online Business
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 […]
Making Employee Financial Wellness a Priority Can Pay Off for Your Business
After a 42-month hiatus, federal student loan payments resumed in October 2023. Impacted employees are now dealing with a new bill factored into their monthly budgets, leaving many stressed and worried. As employers strive to support their workforce, offering benefits that help employees manage their student loan debt has become increasingly important. More than just […]
CPA vs. Tax Preparer: What’s the Difference?
Once the calendar flips to a new year (and you’ve barely had a chance to recover from the busy holiday season), Uncle Sam will come knocking at your door to get his share of your taxable income. Tax season will be here before you know it. But unless you’re a mathematical savant who revels in […]