Posts by Peter B. Scala, CPA

The thought of branching out and starting your own business can be an exciting opportunity and time for you. However, you need more than writing up a business plan. If you’re expecting to have employees, you’ll need to complete a variety of state and federal forms and applications to get your business up and running.…

Regardless of your industry, your business needs to stay on top of its accounting. Unnecessary issues and obstacles resulting in slowed business growth could happen if you fail to keep accurate accounting records. Accounting encompasses keeping track of your business expenses, monitoring financial reports, and collecting payments in a timely manner. These tips below will…

What is the Payroll Tax Deferral? On August 8, 2020, President Trump and the White House issued a Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster[1] for the Secretary of the Treasury, Steven Mnuchin, as a direct response to the novel coronavirus (COVID-19), which has “caused significant, sudden, and unexpected…

When preparing for a natural disaster, your emergency preparedness planning could make the difference between staying in business and losing everything. People tend to think about the supplies they’ll need or how to best protect their property – picking up extra gallons of water or securing heavy items in your office like bookcases, refrigerators, and…

The Tax Cuts and Jobs Act (TCJA) became official in late December 2017. The most substantial overhaul of the tax code in three decades, the TCJA cut taxes for individuals and businesses starting in 2018. Even in 2020, the changes this act made to our tax code are a lot to remember, especially since some…

Small businesses and entrepreneurs depend on investors to get their business off the ground, keep it afloat, and even take it to the next level. Without investors, many businesses that have found success would’ve never gotten the opportunity.  While an investor can do a lot for the right small business, investors are often hard to…

Every year, small businesses are forced to rush through their taxes to get them filed by the April 15th deadline. This year was different, though. From the onset, the federal government knew the troubles small businesses will be facing throughout this year and decided to extend the 2020 tax deadline.  This helped a large number…

Small businesses across the United States have been hit extremely hard since the COVID-19 pandemic started to sweep the country. Some businesses have found a way to survive and even excel during these difficult times; however, others have seen costly disruptions — and some have even been forced to shut down completely.  With small businesses…

Owning a business can be extremely fun and rewarding. You’ll meet a lot of great people, satisfy a wide range of customers, and even learn a little about yourself in the process.  Unfortunately, owning a small business will also come with various challenges, moments of frustration, and times where you’ll be tested. One of these…

When putting together a business plan, you’ll likely be planning for a day when you can afford to expand your team and start hiring people to work for you. As an owner, it allows you to delegate certain daily tasks and free up more of your time — without the company taking a hit.  In…