Advisory Services

At Myrick CPA, we have a clear mission to serve our clients and help them reach their goals. Our strong sense of conviction to do right by our clients compels us to be at the top of our game in advising our clients. Whether you are an individual seeking financial, retirement, and estate planning advice or are thinking of creating your own business or restructuring an existing one, our advisory services can provide you with the expertise to make sound decisions. We also stand ready to assist you in collection proceedings or in the resolution of other tax problems you may encounter that might require IRS representation or advice.

We at Myrick CPA enjoy working with small businesses to take them from conception to start-up to the next level. This begins with thinking about what type of business entity to choose – a choice that has an enormous impact on your taxes and other liabilities. From your company’s inception through its growth and development, Myrick CPA can advise you on choosing an entity type and later restructuring if advantageous. For mature businesses, we can help maintain a smooth succession of ownership. We’ll always use our knowledge and expertise to advise you on the most advantageous entity type for your business’s functions.

As your business grows, we can provide the services that an organization’s Chief Financial Officer frequently does, such as producing cash flow analysis and projections. Many small business owners recognize that a business can be profitable and still have poor cash flow. A cash flow analysis gives you the full picture of your cash position. It will make you aware of the cash you need to keep on hand to meet your obligations. This will help to avoid getting caught in a credit trap or constantly struggling to keep your business afloat.

By examining cash levels during a month or other specified period, we can help you expose gaps in payables and receivables and identify weaknesses in credit use or material/inventory costs. We can also assist in producing updated projections to help you with decision-making. That said, we’ve learned that a cash flow analysis is only as good as its inputs, which is why it is important to keep your books up to date and organized – something our Small Business Accounting Services can help you with. 

Myrick CPA’s goal is to help you reach your financial goals and maintain financial independence through a comfortable retirement. We can guide you through tough decision-making processes such as asset allocation, investment performance monitoring, college education funding, retirement plans, insurance, tax, estate, and business succession planning. Whether you are developing an investment strategy or evaluating current investments, Myrick CPA can ensure that your portfolio will consider tax implications for an advantageous after-tax return. The road to retirement is long, and we can help you take the proper steps to reach your goals.

Effective estate and trust planning can ensure financial security for loved ones. For businesses, it can maintain a smooth succession of ownership. Myrick CPA’s role is to help you navigate the complex and shifting tax laws to facilitate the transfer of assets and minimize the tax liability of your beneficiaries. Everyone should have a well-thought-out plan to disburse one’s estate to avoid complications and be sure wishes are followed. Having your taxes and estate thoroughly and carefully planned will ensure that your loved ones don’t have added burdens to deal with during a time of loss. Myrick CPA stands ready to advise you on the tax and financial aspects of your estate planning. Your estate planning team should also include an attorney specializing in estates and trust law to discuss additional issues such as drawing up a last will and testament and healthcare planning.

Charles Myrick, CPA, has over three decades of experience representing taxpayers with the IRS. He is highly knowledgeable and experienced in what is known as tax resolution — the specialty of advising, representing and negotiating with the IRS on behalf of taxpayers in problem tax cases. He and his staff feel a real sense of satisfaction from solving complex problem tax cases, and lifting what is frequently a considerable burden off of a client’s shoulders.

Suppose you have received a notice from the IRS about a balance due or are concerned about other tax problems. In that case, Myrick CPA, as a specialist in tax resolution, can advise and guide you through any of these types of IRS tax collection proceedings. We can also take on the role of your authorized representative, directly negotiating with the IRS on your behalf, so you do not need to.

As tax resolution specialists, we are in your corner and on your side to guide and help you through the process of dealing with tax authorities to resolve your tax problems. We recommend a consultation with us if you owe more than  $5,000 and intend to petition the IRS for hardship status or a delay in collection proceedings.

Below are some of the specialized tax situations that we, as tax resolution specialists, commonly encounter in our capacity representing taxpayers directly in negotiations with tax authorities. We are also available to advise clients throughout the process on what is necessary to navigate the situation on their own successfully:

  • Negotiating Offers-in-Compromise
  • Negotiating Installment Agreements
  • Negotiating Penalty Abatement
  • Trust Fund Recovery Penalties
  • Employment Tax Cases
  • Taxpayer Advocate Assistance
  • Petitions for Currently Non-Collectible
  • Tax Abatement in Bankruptcy
  • Collection Due Process Hearings
  • Collection Appeal Request Hearings
  • Audit Appeals
  • Innocent Spouse Relief
  • Penalty Abatements
  • 4180 Payroll Tax Interviews
  • Lien Withdrawals
  • Levy Releases.

We at Myrick CPA can help you negotiate a payment plan, explore debt reduction or forgiveness through an Offer-in-Compromise, or assist you during an audit. In addition, we stand ready to help and advise you through any IRS proceeding.

“Charles and team have worked on our tax returns for several years. They do a great job, are helpful, reliable and wonderful to work with!”

— JU

Myrick CPA is dedicated to meeting these goals with high standards of excellence and professionalism. We have been a staple of Washington DC’s business community since the firm’s founding in 1987 and pride ourselves on the level of esteem we have earned.

Contact Us Today