Month: March 2017

Tom and Patrick Murtha admit that most new clients find their full-service accounting firm, Murtha & Murtha Certified Public Accountants (CPA), around tax season. That’s when people are scrambling to meet deadlines for both their personal and business taxes.

They are quick to point out, however, that with Murtha & Murtha, it’s just the beginning of a personal relationship that lasts year-round.

“We have a tremendous amount of experience,” says Tom.  “We’re here to be your most trusted advisor.”

Tom and Patrick are the father-and-son team who are both partners and owners of the firm, located in the Seven Oaks Professional Park off S.R. 56 (across from Sam’s Club). Kyle Flischel serves as the firm’s senior accountant.

Thomas E. Murtha, CPA, earned his B.S. degree in Management from Long Island University in Brooklyn, NY, in 1976, and his M.B.A. (Master of Business Administration) degree in Accounting from St. John’s University in Queens, NY, in 1981. While he was working on his MBA, Tom also worked as assistant controller in the non-bank financial segment of a major New York City bank.

He moved to Tampa in 1987 and opened Accutax Services, Inc., a non-CPA public accounting business that he sold in 2010. In 1999, he also joined another CPA firm in Englewood, FL, that he eventually bought into — Flischel, Murtha & Associates. When Tom passed his Florida CPA test in 2000, he says it was with the fourth highest score in the state. He’s also taught accounting courses at both Hillsborough Community College in Tampa and at the American Institute of Banking in New York City.

Patrick grew up around his father’s business and met Kyle, the son of Tom’s former business partner, while they were both in high school and helping their dads with tax returns. Patrick and Kyle then both attended the University of South Florida. Patrick now holds a Bachelor of Science (B.S.) degree in Finance and a B.S. in Accounting, while Kyle holds a B.S. in Accounting and a Master of Science (M.S.) degree in Accounting with a tax concentration.

When the partners opened their firm in 2010, Murtha & Murtha focused on mergers and acquisitions and was located in downtown Tampa. In 2013, the Murthas expanded to a full-service accounting firm and moved to their current Seven Oaks location.

“We work with businesses from startup to $25 million,” says Tom.  “We don’t just juggle numbers. We get our business clients into budgeting.” He explains that businesses with a budget can then compare their budgets to their actual expenses to see where the numbers are out of line.

“When you have a budget, that’s when you start to control your business and keep it from controlling you,” Patrick adds.

Your Company’s CFO?

Murtha & Murtha offers a “CFO retainer package” to help businesses that need the role of a Chief Financial Officer but don’t have the budget to hire a full-time manager. For a fixed monthly fee, the firm provides services such as monthly accounting, annual budgeting and annual market value estimations.

Tom says that’s an important function. “Everyone who owns a business hopes to sell it someday,” he explains, “and hopefully make some income along the way.”

If you buy or start a business, Tom asks, “Is the value of your company going the right way?”

He says it’s important for business owners to take the time to consider these and other questions. “We like seeing our clients be successful,” Tom says. “That’s what makes us successful.”

Jorge Brea, owner of Symphonic Distribution, a Wesley Chapel company that distributes music to iTunes, Spotify and other outlets, is one of the companies that look to Murtha & Murtha for an annual market valuation and other services.

“Truthfully, they’ve been tremendous,” Jorge says. “They’ve helped us take more control of our books and have been really helpful in providing best practices and standards.”

Jorge also says the market valuation service is extremely helpful. “It’s this really cool yearly report that gives you a lot of statistics and data to see how you compare to other companies,” he explains. “It’s information that you can’t just look up on your own.”

Murtha & Murtha’s customized, personal approach is the hallmark of the way the firm works with both its business and individual clients. This isn’t the kind of accounting firm where clients are encouraged to simply drop off a folder and wait for an email. Tom, Patrick or Kyle will sit down with each new client, interview them and really get to know and understand each of them and their unique financial situations.

Responsiveness is another hallmark of Murtha & Murtha. “The number one reason people tell us they’re switching CPAs is because their CPA didn’t return their phone call or emails,” says Patrick. “We have a system in place to be sure we’re communicating with customers well, and we don’t use ‘it’s tax season’ as an excuse (for not returning calls).”

Tom and Patrick say people are often nervous about how expensive it is to hire a CPA to help with taxes. “The reality is that, of course, it costs more than doing it yourself with tax software,” explains Patrick. “But very frequently, we can find more savings, and we can go up to three years back to get refunds.”

He explains that silly mistakes answering simple yes or no questions can have implications that the typical tax software user just doesn’t understand.

“There are a lot of things you can do, and we understand the implications of the decisions you make in how to prepare your taxes,” explains Patrick, a long-time member, former treasurer and current Sergeant-at-Arms of the Wesley Chapel Rotary Club. “We always advise what’s in our client’s best interest, not our own.”

Tom adds, “In my 30 years in the business, I have seen everything that can go right, and everything that can go wrong. I like getting into things that are complicated.”

They caution people not to make financial decisions based on tax implications alone. Murtha & Murtha has a strong network of financial advisors, bankers and attorneys to refer their clients.

“It’s great to be aware of tax implications, but what happens when life comes along?” asks Patrick. “We’ll work with your financial advisor throughout the year and look at financial implications and all factors in a decision.”

He adds, “We’ll sit and talk with you, and work together with you. We’re not high pressure, and we’re not trying to sell you on anything. People get intimidated by taxes, but we know the tricks and we’ve got the experience to help you.”

Murtha & Murtha CPAs is located at 2236 Ashley Oaks Cir., Suite 101. For more information, visit TampaTaxFirm.com. To schedule a free consultation, call 991-1120.