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Posted by: Charles P Myrick CPA Posted on: May 29 2020

Is Cash Flow a Challenge for Your Small Business?

In my work with small businesses I am familiar with how cash flow management can make-or-break a company. Simply stated, if you aren't properly managing the flow of your money, then you are setting your business up for failure. In this time of COVID-19, managing cash flow is more critical than ever. A new commitment to cash flow planning and management is needed.

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Posted by: Charles P Myrick CPA Posted on: May 18 2020

What Will Your Business Need to Rebound After COVID-19?

What seems true, now, is that when the COVID-19 threats have subsided, the ways of life we knew and counted on before the pandemic will not be returning to us in precisely the same ways. We are at the beginning of a new era, and it can still be hard to imagine. In short, this departure from old ways of doing things is not "temporary."

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Posted by: Charles P Myrick CPA Posted on: May 08 2020

Using Video Chat Platforms to Keep in Touch

Many companies have been using video software to connect remotely for years. However, only recently have we seen almost every industry look for ways to work from home to follow social distancing recommendations due to COVID-19. Small business owners are hard at work imagining new ways to do business; new ways to lead and manage in a future that will rely more heavily on technology than ever before.

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

Suddenly Unemployed in DC, Maryland, or Virginia?

We recently focused on tips and links to resources for small businesses and nonprofits, including churches, that have been adversely impacted by the coronavirus pandemic. Today, we want to focus on resources for individuals in the Washington, DC metro region who have lost their employment due to COVID-19.

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Posted by: Charles P Myrick CPA Posted on: Apr 06 2020

Churches: Apply Now for Forgivable SBA Paycheck Protection Loans

Sometimes it doesn't pay to reinvent the wheel, and this is one of those times! This special blog post includes, in its entirety, an important and time-sensitive message for church leaders, from the Rev. Saeed Richardson, Program & Operations Officer at the Samuel DeWitt Proctor Conference.

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Posted by: Charles P Myrick CPA Posted on: Apr 04 2020

Stimulus Funding for Self-Employed and Small Businesses During the Pandemic

The world has changed in recent weeks and virtually everyone has experienced some kind of effect from the pandemic. Both health and the economy are under siege.  We each need to do our part to stay as safe as possible and limit the spread of the virus by following CDC and state guidelines. We also have the opportunity to tap into financial relief sources that are rolling out now, for self-employed individuals, businesses, and nonprofits.
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Posted by: Charles P Myrick CPA Posted on: Mar 03 2020

Retirement Planning for the Self-Employed

How old do you have to be to start thinking about planning for your retirement? It’s never too early, but when is it too late? Even later in life there are a number of ways to prepare for retirement, but what if you’re self-employed? You may be surprised to hear that you have many similar options as those who are employed by others.

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

How to Think Like an Entrepreneur

While anyone can start a business, not everyone can make it a successful one. Entrepreneurs don’t think like everyone else. They see everything outside the mainstream mindset, with a new idea at the start of each day. If you want to be successful in life or work or starting your own business, you might want to start thinking like an entrepreneur.

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Posted by: Charles P Myrick CPA Posted on: Feb 04 2020

Tax Benefits of Multiple Income Streams

Today’s market can be volatile, and there are many good reasons to diversify ways of generating income. To consider the tax benefits of multiple income streams, first, let’s look at the general reasons to have more than one source of income:

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Posted by: Charles P Myrick CPA Posted on: Jan 28 2020

Turn Your Hobby Into a Business

Many dream of earning a living doing what they already love to do. What if you could turn that hobby from being a costly personal expense into a money-generating side hustle, or even your main business? The IRS no longer allows deductions for hobby expenses, but business expenses are eligible. Statistics suggest that one out of every five Americans will start their own business in the coming year. If you want to be one of those entrepreneurs, there are a few things to keep in mind to get it right.

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