Accounting Professionals Dedicated to the Success of Your Family Business

When you want to keep your family owned business in the family, there are a number of things you need to consider. These can be broken down into two basic categories. The people issues and the money issues. The people issues - who will be involved, who will control, who will manage, who has the necessary skills to do what you did? The money issues - on the death of a family member will the business have adequate cash flow, adequate resources to pay estate taxes, adequate operating capital while in transition, proper creditor relationships to keep the business going? Simply stated - what do you need to do to insure the success and continuity of the business when you want to or have to leave? We can help with training and creating a specific plan for transition. Murphy and Company has years of experience helping family businesses sort through the issues and create real working solutions.

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Dinner, Drinks and Deductions

August 21, 2018

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.

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Phone: 203.208.0572 • Fax: 203.208.2238
Email: info@murphycocpa.com