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cost of goods sold, tax return, inventory cost

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…

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business structure

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. …

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coronavirus outbreak

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…

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accounts receivables, overdue payments

Finding Success In Your Accounts Receivables Department

Your accounts receivables department is one of the most difficult departments to manage on a daily basis. Many owners will find it easy in the beginning, especially when they’re only handling a few clients or orders at once, but that won’t last forever.  Hopefully, that client list will continue to grow and you will soon…

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cash flow, profits

What’s More Important To Your Business: Cash Flow or Profits?

What’s More Important To Your Business: Cash Flow or Profits? Owning and operating a business comes with a wide range of challenges and difficulties. Every owner will have two main goals to pay close attention to — making sure there’s enough cash flow to keep your business running and turning over profits for sustained success. …

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employee payroll

How to Manage Employees’ Payroll Properly

Without an effective payroll processing system or the proper payroll software, your business will struggle to keep things rolling on a daily basis. Your employees are the backbone of everything your company offers, but they will only do their part if they get paid for it.  The good news is there’s a lot you can…

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tax payment, tax season

What Happens If You Pay Your Taxes Late?

Being the owner of a company is far different than being an employee of one. While many of us will start out as an employee somewhere, we all have the dream of one day creating something we get to call our own.  For anyone taking action on that dream, they’ll need to be prepared for…

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Having Difficulty Managing Travel Expenses for Your Small Business?

Any small business owner knows the year-round struggle of managing travel expenses, whether you’re a one-man crew or a team of many. Without an effective strategy to combat this, you can find yourself eating major losses and suffering from some heavy headaches come tax season. We understand how difficult this can be, especially for small…

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What Are the Most Common Accounting Issues Small Businesses Face?

Most small business owners love what they do, but that generally won’t include being an accountant. It’s a tedious job that comes with an enormous amount of rules, regulations, gray areas, organization, and knowledge in the accounting industry.  While many owners will try to take on this task by themselves, it almost always becomes too…

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How Can I Easily Separate Personal and Business Expenses

When it comes to owning a business, no matter how small or large, tax season will be one of the least exciting times of the year. In fact, it’s something that happens year-round and must be taken seriously throughout that entire time. With the right assistance along the way, however, your next tax season can…

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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