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Author Archive for: ‘Charles P Myrick CPA’

Posted by: Charles P Myrick CPA Posted on: Jul 10 2020

It Might Be Time to Reconsider Your Business Entity

As the economy slowly begins to recover from COVID-19 lockdowns, I talk with small business owners who are rethinking their business model. Now, more than ever is the time for all small business owners to engage in a new kind of planning; new ways of monitoring and projecting cashflow; including new models of business.  Thinking outside the box -  and planning differently - are the keys.

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Posted by: Charles P Myrick CPA Posted on: Jul 03 2020

How to Improve Your Cash Balance With Financial Forecasting


Cash flow may be a challenge during normal times but COVID-19 is putting at risk the survival of each business. Projecting the results of reduced income, even if temporary, will guide changes in spending priorities, billing, and business model. I advise my small business clients to adopt a proactive approach to managing their small business with the help of a CPA who can assist with financial forecasting.

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Posted by: Charles P Myrick CPA Posted on: Jun 19 2020

Making a Case for Weekly Cash Flow Analysis

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. Projecting the results of reduced income, even if temporary, will guide changes in spending priorities, billing, and business model. In my work with small businesses I have seen how necessary current cash flow projections are to quantify those changes.

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Posted by: Charles P Myrick CPA Posted on: Jun 11 2020

Managing Cash Flow in an Emergency

The recent COVID-19 crisis has had a major impact on small businesses everywhere. Cash flow may be a challenge during normal times but this emergency is putting at risk the survival of each business. Further, it threatens the livelihood of owners and employees.

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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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