Author Archives: William Murphy

About William Murphy

William F. Murphy is the owner of Murphy Financial Group, P.C. The firm emphasizes in providing tax consulting and financial planning services to corporations, professional practices and individuals. He also provides consultation services on tax and financial planning issues to various news and publishing organizations on current tax law changes occurring within federal and state government. He is also the author of the “Murphy Minute” that is syndicated through various news organizations. Mr. Murphy is also associated with the law firm of Mallor Grodner LLP. The firm has offices in both Indianapolis and Bloomington Indiana. He assists in providing tax, valuation and financial analysis services focusing in the areas of Family law and business tax planning. https://www.linkedin.com/in/william-f-murphy-cpa-pfs-abv-cff-cgma-b38aa713/.

Careful Planning of Year-end transactions is Essential to maximizing tax savings !!!

Posted on October 19, 2018 by William Murphy

Although plenty of people have made money on the stock market this year, there are many others who have recognized losses on securities, or may be thinking of bailing out of other holdings that show paper losses. It is critical … Continue reading →

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Money received by client due to attorney malpractice wasn’t gross income!!

Posted on October 17, 2018 by William Murphy

In a private letter ruling, IRS has held that where a taxpayer lost a nonbusiness wrongful death lawsuit, then sued his insurance company and law firm for malpractice with respect to their handling of the wrongful death case, the amount … Continue reading →

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Ninth Circuit affirms the Tax Court -Payments by one spouse to another were Alimony!!

Posted on July 11, 2018 by William Murphy

Ninth Circuit finds payments were alimony and not property settlement Leslie v. Comm., (CA 9 6/6/2018) 121 AFTR 2d ¶2018-828 The Court of Appeals for the Ninth Circuit, affirming the Tax Court, has concluded that payments by one spouse to … Continue reading →

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