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Magone & Company | Food Manufacturing & Distribution Accounting

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Archives for January 2026

IRS Currently Not Collectible Status: A Lifeline for Struggling Food Businesses

January 28, 2026 by Nick Magone

In the food manufacturing and distribution industry, cash flow challenges are all too familiar. Delayed payments from distributors, unexpected equipment breakdowns and seasonal demand shifts can create perfect storms that leave businesses struggling to meet all their obligations — including tax bills. When you owe back taxes but can’t afford to pay them, you may qualify for a special tax status known as currently not collectible (CNC). In a nutshell, if the… Read More

Filed Under: Uncategorized

6 Secrets to Building a Food Business That Lasts

January 14, 2026 by Nick Magone

We’ve all heard the stats — nearly 50% of new businesses fail within the first five years. But when you have a clear vision and effective strategies to build customer relationships, you can set your food manufacturing or distribution business up for long-term success. Here are six traits of businesses that are built to stand the test of time: 1. Having a pulse on your industry. How well do you… Read More

Filed Under: Financials, Operations

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Recent Posts

  • IRS Currently Not Collectible Status: A Lifeline for Struggling Food Businesses
  • 6 Secrets to Building a Food Business That Lasts
  • Why Food Businesses Need Specialized Tax Expertise
  • How Forward-thinking Food Businesses Plan their Cash Flow Strategy
  • Why Food Manufacturers & Distributors Need Competitive Intelligence

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