Closely observing his father run a successful small business and working in the fields on his grandfather’s farm in Minnesota Pat knew early on he wanted to run his own business. You might say it’s in his DNA. Over the years he developed a passion for learning about and operating a small business.
After taking a bookkeeping class in high school Pat knew he wanted to be a CPA. After graduating with a Bachelor of Science in Business from the University of Colorado at Boulder he started working for a national CPA firm in Colorado Springs in 1980. Pat started our firm in 1985 offering accounting, tax and consulting to individuals and businesses. We are proud to have several clients that have been with us from the start and that we have been able to assist generations of family members.
He is the proud father of Andrea, Allison and Brent. Outside of the office you can find Pat out running on the Santa Fe Trail or fishing in a mountain stream.
Patrick J. Murphy Colorado Individual Certificate Number 6642
Patrick J. Murphy, P.C. Colorado Firm Registration Number 12514
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For many business owners, September tends to bring a bit of a slowdown. The chaos of getting kids prepared for going back to school has passed, and a focus on saving money tends to kick in as people prepare for the coming holiday spend. Combined, this can often translate into a lull for business owners.
This is a friendly reminder that the Q3 tax estimate payment deadline is coming up fast. Be sure to make your payment by September 15, 2018 to avoid penalties. Currently, penalties for late or no payment average about 4 percent. And wouldn’t you rather keep that money in your pocket?
According to new rules from the Tax Cuts & Jobs Act, meals and entertainment tax-deductible expenses for businesses have undergone considerable reform. Because the explanations of new deduction guidelines can be confusing, we’ve created this brief outline for you. A visit with your accounting professional to ensure your Chart of Accounts is correct may also be beneficial.