Call Today: (202) 789 - 8898
Posted by: Charles P Myrick CPA Posted on: Sep 26 2017

How Important Is a Successful Business Plan?

If you’re a small business owner, you need a business plan. Not only will a business plan help you think more clearly about your business’ future, it also forces you to organize your goals and strategies, and keeps your business on track. 

Read More →
Posted by: Charles P Myrick CPA Posted on: Sep 19 2017

Can You Save on Taxes With a Home Office Deduction?

Do you use your home as an office? If so, it's worth considering whether or not you are eligible to take a tax deduction for your home office. The benefit can be significant. The home office deduction is one key way to reduce your tax bill. Here's some guidance from the IRS on how to determine your eligibility. 

Read More →
Posted by: Charles P Myrick CPA Posted on: Sep 12 2017

How to Use the Schedule E for Your Rental Properties

If you are investing in rental property, then you’ll become well-acquainted with the Schedule E tax form. The Schedule E is where you’ll report all of your expenses and income for the year, and take advantage of any deductions you may want to claim.

Read More →
Posted by: Charles P Myrick CPA Posted on: Sep 05 2017

How to Get Started as a Real Estate Investor

Think you want to invest in rental properties? Are you considering buying residential property for rentals? Experts advise people who invest in real estate for building future wealth to make a long term commitment. Here’s how: 

Read More →
Posted by: Charles P Myrick CPA Posted on: Aug 29 2017

How to Organize Your Financial Records and Control Your Money

You know that financial health is the key to peace of mind. When your money is working for you, you can provide for your family and retire when you're ready. The system doesn't own you. Instead, you are in control.

Read More →
Posted by: Charles P Myrick CPA Posted on: Aug 22 2017

How To Get Better at Managing Your Rental Properties

In our past blogs, we’ve talked about some of the tax deductions you can get as a landlord. But guess what? None of those tax deductions matter if you don’t have the records to claim them. 

Read More →
Posted by: Charles P Myrick CPA Posted on: Aug 15 2017

What is the Advantage of a Roth IRA?

Today young workers are encouraged to start savings and asset building strategies as early as possible. A valuable asset to most individuals is their retirement account. A common question is whether to choose a traditional (tax-deferred) or a Roth option. Many people who prefer a Roth IRA say that paying taxes on retirement contributions today is better than paying taxes on retirement savings tomorrow.

Read More →
Posted by: Charles P Myrick CPA Posted on: Aug 09 2017

Why Should I Have Life Insurance? Do I Really Need It?

When you're starting out - new career, new location, new relationships - you probably get lots of advice about planning for your future. Sure, you're fully engaged in budgeting your income and thinking about lifestyle priorities. Still, it's a good idea to start working with a personal financial advisor to develop your long-term financial plan. That comprehensive plan will include, at the least, savings and investment, an emergency fund, debt elimination (student loans), retirement, and income protection (life insurance).

Read More →
Posted by: Charles P Myrick CPA Posted on: Aug 01 2017

What Income Sources Will You Have in Retirement?

 

Most people look forward to retirement. For some, it will be a time to travel and spend time with family members. For others, it will be a time to start a new business or begin a charitable endeavor. Regardless of what approach you intend to take, you will need retirement income to support your lifestyle. Many people depend on multiple sources of retirement income. Here's a quick review of the six primary income sources:

Read More →
Posted by: Charles P Myrick CPA Posted on: Jul 25 2017

How to Make Sense of Your Retirement Plan Options

 

If you are confused by the options for retirement plans that are available, you are not alone. Not many employers offer traditional pensions anymore. Today most workers build retirement accounts from a combination of employer sponsored and individual plans. There are two primary retirement plan types — 401(k)s and IRAs — and your challenge is to know how to choose the right plan for you.

Read More →