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Author Archive for: ‘Charles P Myrick CPA’

Cash Flow Analysis and Why It's So Important for Small Businesses


Cash flow is the lifeblood of any small business. Without enough available cash, you won't be able to pay your staff, cover your outstanding bills, or grow your business. A comprehensive cash flow analysis is a financial statement which shows how much cash your business is bringing in and spending over time,  and it can help you identify potential problems with your cash flow.  Here’s everything you need to know about how to do a Cash Flow Analysis and why it’s so important for small businesses.

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Financial Record Keeping is Vital for Business, Especially at Tax Time

Keeping accurate records for tax purposes and daily operations is critical when you own a business. Clear, organized records allow business owners to know where they stand financially at any given time during the year. You know that the  IRS requires specific documents in order to evaluate the amount of taxes owed, so prior to reviewing your finances with your CPA, make sure your records are in good order when you submit them.  Here’s why financial record keeping is vital for business, especially at tax time.

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Best Practices for Small Business Owners in Preparation for Tax Season

Just as sure as the daylight hours grow longer in the spring, tax time is one thing you know always rolls around each year like clockwork. For many, this annual assessment is preceded by headaches and stress, but we’re here to tell you that if you approach it strategically, tax documentation can be fairly painless. Here are some best practices for Small Business Owners in preparation for tax season.

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