Meet Taylor Murphy | CPA & Tax Mentor

We had the good fortune of connecting with Taylor Murphy and we’ve shared our conversation below.

Hi Taylor, can you walk us through the thought-process of starting your business?
Growing up, I was always busy! I was a competitive dancer in high school while taking several advanced placement classes. In college, I worked part time while taking a full set of courses, and added on studying for the CPA exam during my Master’s program. When I graduated and began working full time at a public accounting firm, I knew I was going to need something else to create that busy lifestyle! In June of 2019, I decided to become a skincare consultant with Rodan + Fields. I had been using the products for 4 months and really loved the results I was seeing, so I decided I would take a leap of faith and start selling the products!

My customer base started growing and I began building a team. I also started networking with other women on my team and within my company. When I would connect with these women, they were often times more interested in my full time, CPA tax accountant job, rather than how my Rodan + Fields business was going. A common theme that I kept hearing was, “you should talk more about taxes on your social media pages”. This was so surprising to me because I knew people did not like taxes! And how was I going to make skincare and taxes cohesive all on one social media page?! At first, I brushed off this idea and kept building my business with Rodan + Fields. However, as time went on, the idea of starting a CPA business specifically for women in the network marketing industry continued to show up in the back of my mind and peak my interest.

I was nervous about making this change. I was nervous about failing and not succeeding, and that maybe no one would want to learn about taxes. I was on a call with a mentor of mine and she told me, “Taylor, if you don’t do this, the only person you are failing is yourself.” It was those words that reminded me that this was not about me, it was about the people I could help. So in October of 2020, I took another leap of faith and decided to step away from building a team with Rodan + Fields, I still serve my clients, and started my tax business, Taylor Murphy Tax Mentor LLC. Through this business, it is my goal to help ambitious, female, network marketers feel confident in their tax strategy, become profitable in their company, and go from hobbyist to business owner!

Let’s talk shop? Tell us more about your career, what can you share with our community?
I attended the University of Colorado, Denver for all of my college career. I started out as a criminal justice major because I wanted to be a translator for the CIA. I had spend 4 years studying Mandarin in high school and really wanted to continue to pursue it in college and my career. My freshman year of college, I quickly learned that the CIA path was likely not for me because military or police service is a preferred prerequisite, and I was not (and still not) in the physical shape to do either of those things. After deciding to switch majors, I thought International Studies may be a good fit. I enjoyed learning about different cultures and historical events, so this seemed like the best option! However, I couldn’t find a clear career path for someone with an International Studies degree. This was important to me because I paid my own way through college and knew that I would need a stable income to pay off student loans. That is when I decided to switch my major to International Business. I could still learn about different cultures, but would also have a business background to support my career path. It was my first semester as an International Business major when I took my first accounting class, and well, everything else feels like history after that!

I really enjoyed my accounting classes, and I was good at it! So I switched my major for the last time, to accounting. I graduated with my Bachelors in Accounting in December of 2018 with Magna Cum Laude honors. At that point I decided to pursue a Master’s in Taxation. I chose tax because its like learning a foreign language. The laws are confusing and difficult to understand, and on top of that they are always changing. I knew a career in tax would be one where I was constantly learning, growing, and becoming a better professional.

Throughout my college career, I did 4 different internships in order help figure out where I wanted to start and hopefully send a large portion of my career. I interned with a bookkeeping business, a large corporation’s international tax department, a mid sized public accounting firm, and one of the big 4 accounting firms. Through these experiences, I found that my true passion lies in client service. That is why I chose to go to work at a public accounting firm in the Denver Tech Center.

Public accounting, isn’t always the easiest of professions, but it is often very rewarding. We spend our busy seasons working 60 – 75 hours a week, but during our off season, we get to take the time to build relationships with our clients and ensure they are being served in the best way possible. As a CPA, we get to be a team member and advisor to our clients. We work together to ensure they are maximizing their tax savings and remaining profitable in their business.

Let’s say your best friend was visiting the area and you wanted to show them the best time ever. Where would you take them? Give us a little itinerary – say it was a week long trip, where would you eat, drink, visit, hang out, etc.
Our week would start off at my favorite coffee stop, Legends Coffee in Aurora.

We’d spend some time at the Cherry Creek State Dog Park with my pups and watch them play with the other dogs at the park!

We’d spend an afternoon at the Denver Selfie Museum enjoying all their fun setups and opportunities to get photos and selfies!

We’d hit a few of my favorite restaurants including the Melting Pot in Littleton, the Green Russel in Denver, and get some meal diversity at the Denver Milk Market.

We’d stop and get drinks at Corridor 44 the champagne bar in Denver! And later in the week we’d stop by the Roosevelt to get a hand crafted cocktail!

Who else deserves some credit and recognition?
The incredible women behind the Influencers Collective Mastermind, Erica Jennings and Mallory Sollie, have provided me SO much support, mentorship, and encouragement since I started on this business endeavor. They create such a safe space for women entrepreneurs to come together, collaborate, and grow together. Entrepreneurship can be very lonely, but the community that the Influencers Collective provides make entrepreneurship fun and enjoyable!

Website: https://taylormurphytaxmentor.com/

Instagram: @bytaylormurphy

Facebook: https://www.facebook.com/TaylorMurphyTaxMentor

Image Credits
Indy Pop Photo