Tom Murtha and his son Patrick do more than just crunch numbers during tax season. Partners and owners of their own accounting firm — Murtha & Murtha, LLC — in the Seven Oaks Professional Park off S.R. 56 (across from Sam’s Club), the father-son duo has more than 50 years of combined experience in handling ever-changing tax laws on behalf of their accounting clients.
The Murthas consult, advise and deal in complicated and intricate tax laws and provide things like business valuations and due diligence while also running the successful Murtha & Murtha Mergers and Acquisitions, LLC.
And of course, they do taxes.
“We do it all,” says Tom.
And, as they help businesses grow and prosper, so has their own business. The Murthas are coming off a year in which they merged with another office in Zephyrhills, which is now called Henson & Murtha, CPAs. Tom says that transition went off seamlessly and is helping the Murthas spread their influence across eastern Pasco, an area they feel is underserved.
“(The merger) was very, very successful,” Tom says. “We (inherited) some great people, haven’t lost any clients and have grown over there.”
Tom, who 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, has been doing mergers, acquisitions and business valuations since the 1990s.
Patrick, who grew up around tax codes at his father’s business, graduated from the University of South Florida in 2009 with Bachelor of Science (B.S.) degrees in both Finance and Accounting. He joined his father in opening a firm in Tampa in 2010, focusing on mergers and acquisitions. One of Patrick’s first tasks was to sell Tom’s former Englewood accounting firm.
In 2013, the Murthas expanded to full service, and in 2015, moved to their current location in Wesley Chapel.
Currently in the middle of tax season, Murtha & Murtha is expecting to do more than 2,000 tax returns between the two offices. In its Wesley Chapel location alone, where the Murthas and senior accountant Kyle Flischel, CPA, are particularly busy, business is up 70 percent.
Tom calls it “explosive.” Patrick draws a laugh from his father when he says this tax season has already been like “trying to drink water from a fire hose.” During a recent two-day span, Patrick says he had meetings with 20 new, potential clients.
That speaks to the success of the firm. The staff has grown and stayed ahead of the growth, allowing Murtha & Murtha, LLC, to provide business services that are never interrupted by seasonal changes or having too much on their plates.
Business Gurus, Too
Much of what Murtha & Murtha does is help businesses large and small handle their accounting. While the proliferation of online filing software has replaced the duties of many accountants over the years, Tom says it has only helped his business thrive.
Now, instead of using most of their time inputting numbers into a computer program, the Murthas have more time to advise businesses on more important matters that can improve their bottom line.
“Today, with QuickBooks and other accounting software, that stuff is already done,” Tom says. “That doesn’t do anything for the client; it’s all after the fact. We can actually help clients with what they need. We’re helping them become successful, not just doing this work that shows them where they were last year.”
That’s why the Murthas suggest that businesses meet with them during the year, to make decisions before tax time, when it may be too late to help maximize a return or save money for that year.
Services Your Business Needs
Murtha & Murtha offers a “CFO Retainer Package,” which is designed to help businesses and those who are self-employed whose company may need a Chief Financial Officer (CFO) but don’t have the budget to hire a full-time manager or accountant for that job.
For a fraction of the cost of a full-time CFO, the Murthas operate in an advisory position and can handle everything from accounting and bookkeeping to setting up payroll and ensuring that all of a client’s income and expenses are classified correctly.
They also will put together a budget, which Patrick says hardly any other companies do. The Murthas are big on budgeting, which helps their clients make decisions in real time, instead of waiting until the end of the year.
And of course, they will take care of all of the tax preparation and planning.
Patrick says it is that personal touch that differentiates Murtha & Murtha from others. While some CPAs may take a pass on your more complicated business problems, the Murthas specialize in taking them on — and solving them.
At Murtha & Murtha, the person you talk to is the person who does your tax return. Whether you’re a filer from a lower income tax bracket, a business bringing in $100,000 a year or someone with an $80-million stock portfolio, you get personalized treatment.
“We want our clients to view us as advisers,” says Patrick, “not just the guys who do their tax returns.”
And if the help you require is outside of their parameters, they will help you find the right person, whether it’s a lawyer or a certified financial planner (CFP).
“Helping the client is our brand,” Tom says. “We help people be successful. That’s what our firm does.”
Murtha & Murtha, LLC, is located at 2236 Ashley Oaks Cir., Suite 101, Wesley Chapel. For more info, visit TampaTaxFirm.com, see the ad on pg. 19 or to schedule a free consultation, call (813) 991-1120. Henson & Murtha, CPAs, is located at 5315 8th Ave. in Zephyrhills. For info, call (813) 782-0580.