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Posted by: Charles P Myrick CPA Posted on: Jan 14 2020

Why Hire a CPA to Do Your Taxes?

Tax laws have gotten complicated in recent years and professional CPAs not only keep up with tax law changes, but also know how to use them to a client’s advantage. In fact, there are many situations in which hiring a CPA could save you a lot of money.

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Posted by: Charles P Myrick CPA Posted on: Jan 07 2020

Personal Finances Tip: Don't Overpay Your Taxes

In order to save money you may do your own personal income tax every spring. While that might seem like good money management, there are a lot of ways you can pay too much without knowing it. Read on to learn a few signs that may indicate whether you are paying more than you need to.

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Posted by: Charles P Myrick CPA Posted on: Dec 26 2019

Cash Flow Helps Nonprofits Thrive on Limited Resources

In my work with nonprofits I see that any organization without a substantial base of operating cash can experience cash flow problems. Small to mid-size nonprofits are often localized in an area without a large number of resources to draw from. The most important way to make the most of the resources your nonprofit has is to manage your cash flow.

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Posted by: Charles P Myrick CPA Posted on: Dec 20 2019

How to Reduce the Tax Burden for Your Rental Property

Are you a landlord or real estate investor who pays too much in taxes? Most rental property owners already have experience owning their own homes or other business. They might be surprised by how many tax deductions and other actions they can take to reduce the tax burden for investment property like rental property.

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Posted by: Charles P Myrick CPA Posted on: Dec 12 2019

What Triggers an IRS Audit for a Small Business?

I find that many small business owners who wait to deal with their income taxes do so out of fear of an audit. Procrastination does not help! A much better strategy is to face your business taxes without fear by avoiding some common triggers which could lead to an audit.

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Posted by: Charles P Myrick CPA Posted on: Dec 05 2019

Successful Nonprofits Know That All Funds Are Not Equal

During this "giving season" many nonprofit organizations participate in fund raising activities. When I talk with nonprofit financial leaders, I emphasize the importance of strategically seeking appropriate funds. Why? Not all revenue sources are relevant to the mission  - some actually add cost to the programs. 

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Posted by: Charles P Myrick CPA Posted on: Nov 28 2019

From Tax Preparation to Financial Planning

I tell all my clients that the true key to building wealth lies in building assets. Regardless of how much money you make, you can build wealth over time through assets. Think about how much of your life involves bills, taxes, purchases, contracts, etc. When it comes to financial planning, why not take advantage of the time you spend preparing for your tax filing and reconnect with your CPA to develop a financial plan for building wealth. 

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Posted by: Charles P Myrick CPA Posted on: Nov 21 2019

How to Manage the Finances of Your Rental Properties

I talk with clients who want to invest in real estate. Some might be starting as a part-time landlord doing much of the maintenance and work. For others, it's a significant investment, and they are running a large operation with employees and many tenants. I advise all of them how important it is to do a good job of managing finances.

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Posted by: Charles P Myrick CPA Posted on: Nov 14 2019

Boost Your Small Business Growth With Year-End Tax Planning

The end of the year is always a busy time for business owners. I tell my clients that tax planning is one of the most important activities to schedule in the last quarter of the year. I know, there are so many competing interests, but there are important business duties that can ensure a successful year when the calendar flips over. Solid year-end tax planning helps you know where you stand in 2019 and how to prepare for 2020.

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Posted by: Charles P Myrick CPA Posted on: Nov 07 2019

What Makes a Successful End-of-the-Year Giving Campaign?

I talk with church leaders about fundraising. The end-of-year holidays are one of the most strategic times for collecting donations. We call it the giving season. Every non-profit ministry in the country will make appeals to the members of their church for financial support. What makes these appeals successful?

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