Murtha & Murtha, LLC, Takes The Confusion Out Of Tax Season

It seems like taxes get more complicated every year, and the Covid-19 pandemic has caused more confusion than ever.

Patrick Murtha, the managing partner of the accounting firm of Murtha & Murtha, LLC, says, “There is an abundance of changes the IRS is sending our way.”

Patrick, his father Tom, and Kyle Flischel run Murtha & Murtha in the Seven Oaks Professional Park off S.R. 56 (across from Sam’s Club) in Wesley Chapel. 

While Kyle has served as the firm’s long-time senior accountant, he recently became a full managing partner of the business. The trio has more than 60 years of combined experience in handling taxes on behalf of their accounting clients.

One of the biggest changes parents will see on their taxes this year is in the child tax credit. In past years, people have gotten a credit on their annual taxes — and often a refund — for each child in their care, but this year, that money has already been paid to those parents in quarterly payments.

“People are used to getting that refunded,” Patrick says, “but it won’t be like that this year because they already got it.”

While that may cause confusion — and some people may be upset that they won’t get as large a refund as they are used to, or may end up owing money —Murtha & Murtha promises that if you have the firm prepare your taxes, you will always understand the issues and exactly why you owe what you owe.

“It’s really important for us to understand every single thing that goes on the tax return so we are able to make sure our clients understand it, too,” he says. “Some just say, ‘Tell me what I owe,’ but others want to know why they owe, so we make sure they understand exactly what happened and why, and what we can do to make sure future outcomes are not that way.”

Patrick says people are still dealing with stimulus issues, too. But, whatever your situation, the accountants at Murtha & Murtha are up to date on all of the tax code changes and can help you file your taxes easily and correctly.

“We’re experts, we’re prepared and we’re well-learned,” Patrick says, “so we’re able to confidently handle all of that.”

Bobbie Smith is a small business owner who came to Murtha & Murtha a couple of years ago when she needed help with taxes, both business and personal.

As the owner of the Wesley Chapel-based Interior Design By Bobbie, she lives in Meadow Pointe III.

“They do everything for me,” she says, “I am so impressed with them, their knowledge, their expertise, and their response back to me. Every time I have a question, they are quick to reply to me.”

Patrick says that’s intentional. He says communication is the top priority at Murtha & Murtha, and while mistakes can sometimes happen because of human error, not returning a client phone call in a timely manner is “unforgiveable.”

And, he says, while some tax firms have a strategy where CPAs meet with clients face-to-face but hire seasonal tax preparers to actually complete the client’s tax forms, that’s not how Murtha & Murtha does it.

“Whoever you meet with is who is going to actually be doing your tax return,” he explains. “If I meet with you and learn about your situation and tax circumstances, I’m going to remember that and it will play a role in making sure I remember to catch things. That doesn’t translate.”

Tax season is Murtha & Murtha’s busiest time of year, but it’s just part of the services the firm provides.

Patrick says Murtha & Murtha’s “CFO Retainer Package” continues to attract new clients. With this package, the firm helps businesses and people who are self-employed do monthly accounting and bookkeeping, but also helps with budgeting, and act when clients have questions about tax planning, mitigating tax bills, or about offering health insurance or retirement plans, for example.

“It’s almost as if you hired a CFO (Chief Financial Officer), but you’re not paying a six-figure salary,” explains Patrick. “We come up with a plan as to how you’re going to grow your business and mitigate your tax bill, so that the tax return should just be a formality. Most people are just looking at their bank account, and it’s impossible to really manage a business effectively that way.”

Patrick understands that most business owners are too busy worrying about their primary business to really step back and look at the big picture, so Murtha & Murtha provides its clients with an extra layer of financial planning and analysis for their business.

Background

Tom Murtha, CPA, earned his Bachelor of Science (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. He 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 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.

Meanwhile, Kyle Flischel, CPA, is practically family, having gone to school with Patrick at USF.  

The Murthas merged with another accounting office in Zephyrhills a couple of years ago, and that location is now called Henson & Murtha, CPAs. It is located at 5315 8th Ave.

Murtha & Murtha, LLC, is located at 2236 Ashley Oaks Cir., Suite 101. For more information, visit TampaTaxFirm.com or to schedule a free consultation, call (813) 991-1120.