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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…
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…
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…
Can an Accountant Provide Relief During the COVID-19 Pandemic?
2020 has been rough on everyone and while businesses are starting to open up again, we are still left with the uncertainty of how long it will take to repair the damage. There’s no hiding the fact that pressure is at an all-time high for small businesses, which is why having a quality accountant is…
How Can You Tell If Your Business Is Healthy or Not?
A growing business has a lot to worry about. Rising expenses, employee turnover, lack of focus on customer service, more responsibility, higher pressure, and much more can easily overshadow all the good work your company is doing. Keep in mind, an influx of customers and clients won’t always mean you’re in the green light. One…
When Is It Time to Restructure Your Business and How Do You Do It?
In a perfect world, businesses would continually evolve and adapt to meet their customers’ and employee’s needs. Whether you’re a startup, a small business that has been around for a while, or a larger company seeing organizational changes, there might come a time when you need to restructure your business. Many business owners will avoid…
Being Smart When Applying for a Business Loan
Applying for a business loan is an extremely delicate process for any small business owner. In the right situation, a business loan can catapult your business into sustained success. Unfortunately, in the wrong situation, it can cause significant harm to you, your employees, and your customers. Furthermore, making small-time errors and mistakes throughout the business…
What Is ‘Cost of Goods Sold’ and How Do You Calculate It?
Being a business owner comes with a wide range of benefits, but it will also come with a certain level of responsibility. One of your responsibilities will include paying attention to key performance indicators and other metrics that measure the success of your business. One of those essential KPIs is known as the “cost of…
Choosing the Best Business Structure for Your Company
One of the many decisions a small business owner will be required to make is choosing the best business structure for your company. You may view it as a daunting task due to the surplus of options, but this can be avoided if you understand what your options are and how they’ll affect your company. …
How to Manage Your Business During the Coronavirus Outbreak
Businesses all across the world are being affected by the coronavirus outbreak. Some are being forced to shut down temporarily, others are seeing significant profit losses and payroll cuts, and some are seeing permanent damage done to what they’ve worked so hard to build. Not only are we left with an enormous amount of uncertainty…
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
Service Areas
I provide my services to clients in the New York City Metropolitan area.