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Author Archive for: ‘Myrick CPA’

The Early Bird Gets the...Tax Refund? How to Approach Filing Deadlines

Winter weather may still be hanging around, but for financially-minded folks, a different kind of chill is in the air – tax season is upon us! While April 15th might feel like a distant date on the horizon, it's approaching rapidly. This begs the question: early-bird filing or a last-minute scramble? There is no magical, one-size-fits-all answer; it all boils down to your unique financial situation and goals.

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Recordkeeping for Tax Purposes: Avoid Disorganized or Incomplete Files

Tax season often brings with it a sense of profound dread, a towering pile of paperwork, and the nagging fear you may have overlooked essential deductions. What if this year could be different, though? If you keep well-systemized records (paper and digital) from the start of the year, you can avoid the unnecessary chaos of disorganized and incomplete files at tax time. The secret of transforming tax preparation into a manageable task? Great recordkeeping!

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Posted by: Myrick CPA Posted on: Jan 18 2024

The Social Security Maze: Navigating Your Options for Retirement

Navigating Social Security claiming options can sometimes feel like traversing a complex financial labyrinth. While uncertainties may arise, understanding the key milestones and their implications empowers you to plot your retirement course confidently. Let us shed some light on the claiming landscape, dispel a few common myths, and review some factors that can help you to make informed decisions for a financially secure future.

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Posted by: Myrick CPA Posted on: Jul 20 2023

Tax Credits You Don't Want to Miss: How to Determine Your Eligibility

Tax credits are powerful tools that directly reduce your tax liability, dollar for dollar. Unlike deductions designed to reduce your taxable income, tax credits directly reduce the amount of tax you owe. Tax credits are a great way to save money on your taxes because they can help to reduce your overall tax burden or even entitle you to a tax refund. Read on to learn more about the tax credits you don’t want to miss - and how to determine your eligibility.

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If You’re Self-Employed, Here’s What to Expect When Filing Your Taxes

In the past few years, self-employment, or working as a freelancer, has become a popular means to earn a living while pursuing creative ideas or working on passion projects. However, along with the many benefits of being your own boss, such as scheduling and completing work at your convenience, there are tax repercussions of which you need to be aware. For self-employment tax reporting, there’s some specific information and documentation you must have on hand when tax time rolls around. If you’re self-employed, here’s what to expect when you file your taxes.

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Posted by: Myrick CPA Posted on: Apr 13 2023

When Do You Need to Hire a CPA for Tax Preparation?

The April tax deadline is looming. If you haven’t filed your taxes yet, you may be debating whether to hire a CPA or do them yourself. If you do decide to engage a professional, must they be a CPA? Knowing when the time is right to bring in a CPA can help you run your business more successfully. So… when do you need to hire a CPA for tax preparation?

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With Just Days to Go, Tax Time is Upon Us! Do You Need an Extension?

Love it or hate it, tax time is looming large. (Not that we think many of you love it, unless of course you’re receiving a tidy sum in a refund).  All through the winter, and into spring, you try to stop thinking about it (or you've completely forgotten), but the deadline is drawing very near.  You are supposed to get your taxes filed before the 18th of April, and there's no time left to tip-toe around the topic. With just days to go, tax time is truly upon us! Do you need an extension?

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Introducing Myrick's Client Care Services Plan for Your Peace of Mind

When you open your mailbox and find a simple white envelope with the return address containing the words “Internal Revenue Service” or “State Tax Commission”, you might feel your heart skip a beat as anxiety sets in. It could be a simple notice informing you of your Identity Protection PIN, or a request for more information, or possibly a notification of something more serious, such as potential tax identity theft or an impending audit. Once you steel yourself to open the envelope, it’s likely that your initial thoughts will be along the lines of  “How do I handle this?” and “Who can help me?” This is the reason that we at Myrick CPA are introducing the Client Care Services Plan - for your peace of mind.

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Posted by: Myrick CPA Posted on: Feb 23 2023

How to Prevent Online Scams - and What to Do if Targeted

Flimflam, scam, con, shakedown, racket . . . to borrow Shakespeare's phrase, "A fraud by any other name would be as deceitful." Scams have been perpetrated on individuals and companies for at least 2,500 years, and the tools used to carry out the crimes are ever-changing. An expansive list of possible scam scenarios will not likely cover all possibilities. Learning to beware of the signs of potential fraud and how to respond is a more effective method to protect yourself from becoming the victim of an online scam. Here a few hints on how to prevent online scams - and what to do if you’ve been targeted.

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Posted by: Myrick CPA Posted on: Dec 09 2022

Facing a Tax Audit? You May Need Help from a Tax Resolution Specialist

CPA Charles Myrick has more than twenty years of experience in tax resolution. He is highly skilled in advising, representing, and negotiating with the IRS on behalf of his clients who are being audited or who owe back taxes, in addition to other problems they may be facing. The Myrick staff are exceptional when it comes to taking on the challenges of complicated audits, and reducing stress on their clients. If you are facing a tax audit, you may need help from a tax resolution specialist.

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