Call Today: (202) 789 - 8898
Posted by: Charles P Myrick CPA Posted on: Mar 21 2017

Tax Saving Strategies: Roth or Traditional IRA?

There are a few differences between a traditional IRA and a Roth IRA, and it is important that you understand these distinctions when you are choosing your retirement savings platform. Both types of retirement savings accounts can be beneficial, and you should talk with an accountant or qualified financial advisor to make the decision based on the best tax savings strategies for your individual needs. 

Read More →
Posted by: Charles P Myrick CPA Posted on: Mar 14 2017

Individual Tax Saving Strategies

No question. Today’s tax laws are complicated. Many individuals are confused about which credits and deductions they can claim on the 2016 return. Even if you use professional tax preparation services, it’s a good idea to be familiar with the types of tax breaks for which you many be eligible. 

Read More →
Posted by: Charles P Myrick CPA Posted on: Mar 07 2017

How to Prepare Your Business Travel Expenses for a Tax Audit

If you intend to deduct business travel expenses on your income tax return, you need to keep organized and adequate records. In the event of a tax audit, having proper documentation will ensure that you will be able to substantiate your deductions and get the tax savings for which you are eligible.

Read More →
Posted by: Charles P Myrick CPA Posted on: Mar 02 2017

Are You Eligible for the Home Office Deduction?

It's tax season, and most of us are focused on preparing and filing tax returns. You may file your return yourself or hire a tax preparation firm that provides small business accounting services. Either way, make sure you consider one key way to reduce your tax bill: the home office deduction. 

Read More →
Posted by: Charles P Myrick CPA Posted on: Feb 21 2017

How Your Business Entity Affects Tax Planning and Tax Records

It's tax season, and small business owners are reminded how the business entities they choose determine the amount of taxes they pay. Also influenced by the type of business entity is the amount and type of tax records required for tax filing. Business owners have several options for forming a business entity. Whether you are starting a business or thinking about making a change to your structure, it's a good time to take a look at the options.

Read More →
Posted by: Charles P Myrick CPA Posted on: Feb 14 2017

Tax Saving Strategies for Entrepreneurs

 

Taxes. If you are self-employed, the myriad tax rules that apply to your income may dampen your entrepreneurial spirit. Especially when you are preparing to file your return. But, taxes don’t have to be such a burden. Take advantage of the immediacy of your situation - what better time to do some planning than while everything is fresh in your mind. Here's some advice on how to get an early start on tax planning strategies for this year: 

Read More →
Posted by: Charles P Myrick CPA Posted on: Feb 07 2017

Rental Property Tax Deductions: Don't Miss Out

You wouldn’t spend more than necessary on utilities for your rental properties, would you? Then why would you spend more on taxes than you have to? Every year, landlords lose money because they overpay on their taxes, missing important and easy deductions that could put cash into their pockets.

Read More →
Posted by: Charles P Myrick CPA Posted on: Jan 31 2017

Do I Have to Pay Self-Employment Tax?


Did you work for yourself as an independent contractor or a sole proprietor in 2016? If so, you may owe self-employment taxes on your earnings. That's true no matter what your age – even if you're receiving social security benefits. Here’s why:

Read More →
Posted by: Charles P Myrick CPA Posted on: Jan 24 2017

How Much Is Your Small Business Really Worth?

If you’re like most small business owners, you have a serious problem on your hands. You don’t know how much your business is worth. You have so much of your own money and your own assets tied into it that it is impossible to get a value. Actually, you can get a busines valuation, but you will need some help.

Read More →
Posted by: Charles P Myrick CPA Posted on: Jan 17 2017

When Is a Business Advisor Worth It?

As a small business owner, you are likely concerned with your budget. You don’t want to spend more than necessary, so you don’t want to hire a business advisor unless it’s warranted. Fortunately, it is easy to determine if hiring a small business consultant is worth it.

Read More →