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tax notice, tax notice from the IRS, small business tax return

What Should You Do When You Receive a Tax Notice?

Every year, small business owners are faced with the stressful task of reporting income to the IRS and filing a tax return. There’s no way around it, and it must be done each year by April 15th — or July 15th in 2020’s case.  Failing to do so will require a tax notice from the…

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What Is Cost Management & Why Is It Important?

Cost management is a term used by small business owners in every industry. It involves a series of strategies, processes, and methods of managing costs, expenses, and other financial decisions. You’d be surprised how often you’re making costly decisions! It’s common for new small business owners to not have the necessary advice or guidance right…

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avoid paying high taxes, small business, high taxes, tax season

How Can Your Small Business Avoid Paying High Taxes

Taxes are a necessary evil for any small business owner and will often be one of the most stressful times of the year. Not only is it a strenuous process that requires diligence and time, but there’s that lofty tax bill at the end of it — as if that’s supposed to be some kind…

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accurate business valuation, business valuation, value your business

Preparing for an Accurate Business Valuation

There are a variety of reasons why a company might be interested in receiving a business valuation. They come in handy during disputes with shareholders, anytime you’re preparing to buy or sell a company, mergers, planning a company’s exit strategy, litigation support, and much more.  However, when it comes to business valuation, they are only…

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small business, succession plan, succession planning

Does Your Small Business Have a Succession Plan?

Starting your own business was a major turning point in your life. Ever since then, you’ve been stuck “in the now” as you manage and monitor your business on a daily basis. While this is what you signed up for, it can easily take away from your ability to look ahead.  As a result, one…

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reopen your business, covid-19 pandemic, social distancing, small business

How to Safely Reopen Your Business During COVID-19 Pandemic

As we start to see the lockdown restrictions easing up in many states across the United States, businesses are beginning the process of reopening. Since the COVID-19 pandemic is something that many businesses have never faced (at least in this century), there is a wide range of factors to consider when you reopen your business. …

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certified public accountant, small business, hire a CPA

Is It Time to Search for a New Certified Public Accountant?

A certified public accountant can bring a plethora of benefits to your business, regardless of how small or large. They bring a wide range of knowledge and expertise to your company and can provide advice far beyond your finances and tax season.  Much like most independent contractors that you’ll work with, there might come a…

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financial emergency, preparing your business, certified public accountant

Is Your Small Business Prepared for a Financial Emergency?

Every small business faces its fair share of obstacles and challenges, which is just part of the nature of business ownership. If you want to ensure your business succeeds in the most crucial moments, ensuring you’re prepared for any financial emergency that might arise is an excellent place to start. When dealing with a financial…

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amended business tax return, business tax return, certified public accountant

Do You Need to Amend Your Business Tax Return?

Filing your business tax return can be a complicated process, especially when you consider the type of business you own. In fact, this is the main reason why many business owners today will turn that responsibility over to a certified public accountant.  Regardless of how diligent you or your accountant are, mistakes do sometimes happen…

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small business, increase profits, certified public accountant

Practical Ways a Small Business Can Increase Profits

One of the biggest struggles small business owners will face is trying to turn a profit. Once a profit is finally achieved, the focus will turn to increase those profits and learning the processes to continue turning a profit.  During these tough times, being able to increase profits might seem impossible. While there will certainly…

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Get in Touch With Me

Contact me for any of my accounting services. I am more than happy to answer any of your questions.

PETER B. SCALA, CPA, LLC

775 PARK AVENUE, SUITE 255 HUNTINGTON, NEW YORK 11743

(631) 923-0200

Service Areas

I provide my services to clients in the New York City Metropolitan area.

Long Island

Westchester County

New York City

New Jersey

Connecticut