Call Today: (202) 789 - 8898

Author Archive for: ‘Charles P Myrick CPA’

Posted by: Charles P Myrick CPA Posted on: Sep 19 2019

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. My advice? If you want to achieve long-term success with your company, then you need to make sure that you have cash available at all times. 

Read More →
Posted by: Charles P Myrick CPA Posted on: Sep 12 2019

What Do Church Boards Need to be Better Fiscal Managers?

In my work with church leaders, I see clearly the challenges facing church boards. Tasked with guiding and keeping the mission-driven activities on course, board members can lose touch with the day-to-day financial operations. The board's responsibility for the ongoing monitoring of the church's fiscal matters is, however, a fiduciary one. To do so, it must receive regular and accurate financial information.

Read More →
Posted by: Charles P Myrick CPA Posted on: Sep 04 2019

How to Create Wealth By Paying Lower Taxes

As I meet with clients throughout the year, I stress the importance of tax efficient planning strategies. I explain that tax efficiency is simply an attempt to minimize tax liability when given many different financial decisions. The tax code offers many ways to reduce your tax liabilities if you know how to use it. Your income can be converted into assets with smart tax planning. The real key to building wealth lies in creating assets.

Read More →
Posted by: Charles P Myrick CPA Posted on: Aug 27 2019

CFO Services: Your Small Business Competitive Edge

I meet with a variety of small business owners and am always impressed by the passion these entrepreneurs have for their businesses. As the tax and finance guy, I know how crucial cash flow is to the success of every enterprise. I also know that cash flow issues are among the leading causes of business failure in the United States. A solid financial management strategy is needed.

Read More →
Posted by: Charles P Myrick CPA Posted on: Aug 20 2019

What Advantages Do You Get With a Roth IRA?

The retirement account is a valuable asset. Every worker should start savings and asset building strategies as early as possible. A common question I hear from my clients is which type of retirement account is best. There are various types and your best one depends on your situation. The Roth IRA is one of the options. 

Read More →
Posted by: Charles P Myrick CPA Posted on: Aug 13 2019

How to Write a Successful Business Plan For Your Company

As a CPA I help many small business owners with tax planning and filing. That means I see the businesses that succeed as well as those who don't. My advice is that if you’re a small business owner, you need a business plan. To write a successful plan you must know everything about your company, your product or service, and the market competition. 
Read More →
Posted by: Charles P Myrick CPA Posted on: Aug 06 2019

Do Your Church Collections Go Down in the Summer?

Pastors that I talk with tell me that the summer months can be hard on their church collections. Historically speaking, church attendance declines in the summer months as families go on vacation or merely stay away to avoid the heat. For churches that rely on the Sunday collection plate for most of their income, this can be a hard time. 

Read More →
Posted by: Charles P Myrick CPA Posted on: Jul 31 2019

Has An IRS Imposter Targeted You?

Now and then I hear from a client who suspects that an IRS imposter is targeting them with a fraudulent phone call or email. According to the IRS, these calls are becoming more frequent and are increasingly aided by robocall technology. My first response is always the same: Don’t respond. 

Read More →
Posted by: Charles P Myrick CPA Posted on: Jul 23 2019

Can Your Nonprofit Benefit From a Cash Flow Projection?

When I work with nonprofit leaders, I hear about the challenges they face with cash flow. Nonprofits have historically faced a unique funding situation due to the variability of grant funding cycles and donor contributions. I recommend a tool – cash flow projection – that can help organizations maintain financial viability today and in the future.

Read More →
Posted by: Charles P Myrick CPA Posted on: Jul 16 2019

How Can You Benefit From Hiring a Property Manager?

When I meet with clients for tax planning, I show them how the tax code favors small business. Even if they have a good job, adding a side business is beneficial. Investing in rental properties is one example. But, real estate investing is not for everyone - managing property or being a good landlord takes practice. That’s why many successful real estate investors and landlords depend on their property management companies. 

Read More →