Family-Owned Business Services in Washington DC
There’s a unique set of challenges that comes with running a family business. At DeBlanc, Murphy & Murphy, we know how to navigate them. Serving the greater Washington, DC area.
Your Washington, DC Business Services CPAs
A family business can be very different from other businesses. Its purpose, goals, and operations are unique to the family. And a family business will face unique challenges that traditional businesses do not. Planning for these challenges can ensure the long-term sustainability of both the business and the family.
Some family businesses and families become so intertwined that they require the formation of a family office. A family office provides formalized support services to the business and family members. A family office has three main functions:
- To formally manage the family’s wealth that lies outside the operating business (including developing an investment strategy, investment reporting, and cash management)
- To provide formalized support services to family members, including tax preparation, financial, estate and insurance planning, accounting and bill pay, advising on and administering philanthropic endeavors, managing outside service providers, and managing non-portfolio assets such as real estate, boats, planes, and cars
- To establish and maintain governance structures and processes that ensure both the business and family continue to thrive for generations to come
At DeBlanc, Murphy, and Murphy, we can help you:
- Set up, build out, and manage your family office
- Provide accounting, planning, and reporting
- Develop intentionally structured governance that enables you to make great decisions for both your business and your family
- Develop an Owner Strategy Statement so you can define your success for the business and the family
- Draft a Family Business Communication Plan that enables the flow of communication between the business and the family
- Develop a Family Employment Policy that enables family members to participate in the business while maintaining family boundaries
- Build and manage an investment portfolio to create a legacy that lasts for generations
- Structure the purchase and management of the family’s non-portfolio assets
- Prepare and manage your succession and estate plan
- Provide support services to family members, including accounting, bill pay, tax preparation, educating family members on business and financial matters, assisting with family meetings, and more
Wealth management services are offered through DeBlanc Wealth Management, LLC., a Registered Investment Advisor, and sister-company of DeBlanc, Murphy, and Murphy, LLC.
We have used their services to prepare our tax filing for a few years and are very pleased with their knowledge and professionalism. Great job team.
Very prompt and very efficient service. I have been using DeBlanc, Murphy & Murphy for about 10 years and am totally satisfied.
DM&M has been our outside accounting company for over 20 years and they do an outstanding job. Highly recommend.
Who We Are
DeBlanc, Murphy & Murphy is a full-service accounting firm capable of providing clients with a wide range of financial services, including:
- Tax planning and preparation
- Private company and government audit & attestation services
- Accounting and bookkeeping
- Business consulting
- Personal financial planning
- Wealth management
- IRS representation
- Litigation support
- Fraud prevention & detection
- Expert witness services
- Cryptocurrency consulting
- Family office services
The firm was founded in 1978 with one goal in mind—to create value for clients so they can achieve their goals and objective. We’ve kept that same intention for decades and serve a wide range of clients (big and small) in diverse industries.