Accessibility Statement
Accessibility Statement
“Myrick CPA has worked with our firm, and me personally, for almost five years. Charles and his team are thoughtful, thorough and detail-oriented accounting professionals whose work is accurate and timely. Charles has taught me a lot about the tax code which has benefitted both our business and me personally. I am so glad to have found him.”
— AB
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.
Privacy Policy
Privacy Policy
“Myrick CPA has worked with our firm, and me personally, for almost five years. Charles and his team are thoughtful, thorough and detail-oriented accounting professionals whose work is accurate and timely. Charles has taught me a lot about the tax code which has benefitted both our business and me personally. I am so glad to have found him.”
— AB
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.
Accounting and Auditing
Accounting and Auditing
The accountants at Myrick CPA’s Small Business Accounting Services handle all of the accounting and reporting needs of many small businesses and nonprofits in the Washington metropolitan area. We can do the same for you. When you outsource your small business accounting functions to us, you get more time to focus on your core business operations and decisions.
We can work with you or your designated team member to set up and manage everything your business or organization needs to run smoothly on the financial side. We incorporate professional advice and best-in-class customer support seamlessly with the simplicity and control offered by our top-notch accounting software solutions. We have the skills, tools, and time to accurately keep your records, optimally manage accounts receivable, revenues, and debt, and produce reliable financial statements, along with timely tax filing.
If desired, we can work with you to process invoices and statements, accounts payable, cash receipts and disbursements, and payroll and prepare bank reconciliations and recurring reports. We can also assist you with revenue-related tasks such as invoicing customers, monitoring expenditures, reconciliations, filings, and reporting.
In addition, our services will help you manage and improve your cash flow by providing real-time information needed for monitoring and decision-making. Please contact us for more details about our Small Business Accounting Services, including our specialized software package.
Auditing Services
Auditing is crucial to ensure that companies and organizations represent their financial positioning fairly, accurately, and in accordance with accounting standards.
Myrick CPA can provide your business or organization with an independent examination of accounting, financial records, and financial statements to determine if they conform to the law and generally accepted accounting principles (GAAP).
Myrick CPA’s financial statement services comprise all three levels of assurance depending on your company’s needs:
Audits.
Audits offer third parties the highest level of assurance and include in-depth examination and confirmation of account balances, inventories, and selected transactions. We perform audits for you to remove errors, ascertaining the validity and reliability of your information.
Reviews.
Reviews provide limited assurance to outside interests and involve inquiries and analytical procedures that confirm financial statement matters and identify any items requiring further analysis. We perform reviews to ensure the integrity of your data.
Compilations.
Compilations are usually requested for internal purposes and are based upon information provided by a company’s management. They do not offer assurance but may involve some adjustment to accounting records.
Don’t hesitate to get in touch with us to discuss further what type of auditing services best fits your needs.
“Have been a client for over 25 years. Brilliant CPA and an excellent, empathic counselor, and good man.”
— GW
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
Contact Us
Address:
805 15th Street NW, Suite 805
Washington, DC 20005
Telephone: (202) 789 – 8898
Fax: (202) 513 – 8255
Email: info@myrickcpa.com
“I have been using him for years. Great advice, very professional and knowledgeable.”
— DG
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.
Advisory Services
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.
CFO Services
CFO Services
As your company or nonprofit grows, you may feel like you are constantly making decisions in the dark because you lack an accurate financial picture. Any company or nonprofit organization’s accounting and finance functions are intended to produce timely and accurate financial information for the entity. A good Chief Financial Officer (CFO) will oversee these accounting and finance functions, but their true value comes in providing forward-looking financial analysis to help you make decisions.
Myrick CPA can provide CFO services to help you get complete information and track each desired aspect of your operation. We can help you develop and put into place a system to produce customized Key Performance Indicators that are appropriate for your industry or stage of growth. We can also help to properly account for the nuances of new offerings or projects that span months or quarters.
Putting into place the basics
Accurate record-keeping is essential to achieving sound financial analysis. Myrick CPA can help you put into place the necessary processes and procedures for accurate record-keeping and can help with the day-to-day tasks of bookkeeping so that you can focus on your core business. We can work with you or your designated team member to set up and manage everything your business needs to run smoothly, efficiently, and productively on the financial side. Please see our section on Small Business Accounting services in the Accounting and Auditing section for more details.
Myrick CPA accountants can handle your daily accounting needs and communications with you. If necessary, we can work with you to process invoices and statements, accounts payable, cash receipts and disbursements, and payroll and prepare bank reconciliations and recurring reports. In addition, our services will help you manage and improve your cash flow by providing real-time information needed for monitoring and decision-making.
“We have used Charles Myrick CPA for personal taxes matters for over 15 years. The staff are [also] knowledgeable about nonprofits — very professional and always responsive to our needs both personal and business. I highly recommend Charles Myrick CPAs for your accounting and tax needs.”
— JJ
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.
Our Services
Our Services
Myrick CPA provides a wide range of local and virtual accounting services to individuals, nonprofits, and businesses in a variety of industries. At Myrick CPA, we strive to meet each client’s specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment. Our professional services include tax preparation and planning, CFO services for small businesses and organizations, and advisory services, including financial, retirement, and estate planning; business entity selection and restructuring; and IRS representation.
“Personal attention to clients' specific needs and issues; anticipates and helps respond to potential changes in clients' tax status; flexible in working relationships; extraordinary turnaround time.”
— CB
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.
Tax Services
Tax Services
Myrick CPA provides a wide range of in-person and virtual accounting services to individuals, nonprofits, and businesses in various industries. We strive to meet our client’s needs in planning for the future and achieving their goals. Our professional services include tax preparation and planning, and CFO services for small businesses and organizations. Our advisory services include financial, retirement, and estate planning, entity selection and restructuring, and IRS representation in problem tax cases if needed.
We take pride in having long-term relationships with our clients. We value that our clients consider us trusted advisors. We work hard to get to know them, their financial position, and their goals. We patiently answer questions and develop thoughtful recommendations to maximize our client’s financial position. Our guidance is based on our deep knowledge of federal and state tax laws and regulations.
We want our clients to have complete confidence they are getting the best advice on tax savings. In addition, we want the experience of tax preparation and planning to be easy, organized, and calming. We recognize that tax reporting and filing can sometimes be stressful, and we want to ensure our client’s experience is smooth and easy.
“Have been a client for over 25 years. Brilliant CPA and an excellent, empathic counselor, and good man.”
— GW
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.
A Wealth Building Approach
A Wealth Building Approach
The team at Myrick CPA considers working with clients to build wealth one of the most gratifying aspects of the practice. We feel a sense of pride when we see our efforts generate results for clients as they achieve long-term security for themselves and their families. Wealth building is the process of generating long-term income through multiple sources. The basic formula for building wealth involves making more money than you spend, avoiding debt, and investing your savings wisely. Wealth building refers to more than job-based income and includes savings, investments, and income-generating assets.
Myrick CPA can play an essential role in helping you build wealth for yourself and your family. Charles and the Myrick team can provide you with helpful financial planning tools to create a budget, evaluate and analyze your expenditures, and make wise investments. In addition, they can advise and guide you through important life decisions, whether helping you assess the most suitable retirement account or determining if you have the correct type of insurance and how much you might need.
Clients consistently cite Myrick CPA’s reliable advice on immediate decisions they are facing as one of the top reasons they chose the practice and stay as long-term clients. For example, the Myrick CPA team regularly advises clients on handling debt and whether it is optimal to pay it off, refinance, or consolidate it. The team can also advise you on tax savings strategies to help you make room for savings and investing. In addition, they stand ready to help you to think through longer-term questions, such as the rate of return you will need to earn on your investments to achieve your goals over a given time frame.
One of the most significant benefits of working with experienced accountants is to leverage all available tax savings. When your accountant has many years of experience working with tax returns, they can help you maximize your tax savings as much as possible. In addition, Myrick CPA stands ready to work with you to put into place measures to make the most of choices like charitable giving, Health Savings Accounts, and educational savings plans. They can also advise you on the tax benefits of homeownership, investing in real estate, or renting part of your home on a short-term rental platform.
“I enjoy working with Mr. Myrick and his team. They are professionals and always responsive to my concerns and inquiries. Best of luck to him.”
— SM
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.
The Myrick CPA Difference
The Myrick CPA Difference
Charles Myrick believes in getting to know each client. He takes the time to understand each client’s financial situation, goals, and challenges. He believes that the relationship between accountant and client should be based on open communication and the exchange of ideas, which best serves as the basis for informed decision-making.
Charles believes in maintaining strong, long-term relationships with clients to develop strategies over time to best position them to make the most of their finances. Charles thoroughly studies each client’s financial picture to get each client’s best results and outcomes.
“We at Myrick CPA have worked with many of our longstanding clients for years. We value the role we have earned as trusted advisors — we are proud that we are the first people our clients call when they need advice. We listen carefully to what our clients say.” —Charles Myrick, CPA
As part of a strategic process, Myrick CPA emphasizes an individualized tax planning consultation each year, allowing for a review of the previous year’s filing and recommendations to maximize tax savings in the next filing year. In addition, Charles regularly consults with clients as they face critical financial decisions. He takes pride in guiding them through financial decisions with sound and practical advice.
Small Businesses and Nonprofits
The accountants at Myrick CPA’s Small Business Accounting Services handle all of the accounting and reporting needs of many small businesses, nonprofits, and churches in the Washington metropolitan area. We believe that a skilled accountant should get to know a client’s business or organization well enough to regularly keep them aware of an array of factors that could affect their bottom line.
Let Myrick CPA assist you in weighing the financial ramifications of certain decisions, like:
• Whether to hire an independent contractor or a full-time employee,
• Whether to buy or rent an office space,
• How to select or restructure an entity to gain financial advantage,
• and much more.
We work collaboratively with our clients to make it easy for them to consider and understand which actions they need to take now and in the future.
For businesses and nonprofits, our Small Business Accounting Services begin by helping clients establish better, more efficient processes for creating and managing business information. Attention to these fundamentals positively benefits the accounting process through more timely, accurate reporting and financial data management. We believe the ultimate result is a better-informed client to whom we can make recommendations based on data as a trusted advisor.
We also offer Chief Financial (CFO) Services to small businesses and nonprofits. We serve as trusted advisors who can oversee the organization’s accounting and finance functions, produce financial projections and analyses, and provide advice and recommendations to support informed decision-making.
“We understand that being a business owner or nonprofit leader means taking action in the face of uncertainty. Therefore, we always ask questions, assess the situation, and offer recommendations when requested. Our team has solid financial expertise coupled with the good judgment that comes with decades of practical experience with the financial management of all types of entities, from solo practitioners and community groups to enterprise-level companies.”
—Charles Myrick, CPA
“We have used Myrick CPAs for both personal and business matters for over 10 years. The staff are knowledgeable, professional, patient and always responsive to our needs. Mr. Myrick is constantly looking for innovative solutions to help clients improve operational effectiveness and efficiency, and provides regular, relevant and timely business advice to assist in planning throughout the year. I highly recommend Myrick CPAs for your accounting and tax needs.”
— ST