Employee Spotlight: A Day in the Life of Tax Specialist Phil Murphy

As a tax specialist with Farm Credit East's Financial Accounting Services (FAS) team, Phil helps agricultural businesses navigate everything from annual tax preparation and year-end planning to farm transitions and succession planning. While tax season is certainly a busy time, his work extends far beyond April deadlines.

Having grown up on a farm, Phil understands firsthand the challenges farmers face. That connection to agriculture is one of the reasons he has built a career helping farm families make informed financial decisions.

“I know how hard farmers work because farming was a big part of my childhood,” Phil says. “Being able to support that community and help them succeed is what motivates me every day.”

Starting from the Ground Up

Phil's Farm Credit East journey began in 2013 as an intern. After serving several years as a seasonal tax preparer, he joined the organization full time in 2018. Over the years, he has expanded both his technical expertise and his customer relationships, earning his Enrolled Agent (EA) designation, one of the highest credentials available for tax professionals.

Today, as a tax specialist, Phil works with customers across New York and Pennsylvania, supporting a wide range of agricultural operations, from dairy farms and crop producers to Christmas tree farms and other specialty businesses. Variety is one of his favorite parts of the job.

“One day I might be working with a dairy farm, and the next I'm helping with a Christmas tree operation,” he says. “That diversity keeps things interesting.”

What Does a Typical Day Look Like?

The answer depends on the time of year.

During tax season, Phil's focus is preparing tax returns, meeting filing deadlines and helping customers navigate increasingly complex tax situations. Days are fast-paced and often centered around completing returns while responding to customer questions and unexpected developments.

Outside of tax season, his work shifts toward tax planning, payroll and sales tax services, special projects, and helping customers prepare for future business decisions. Fall is often one of his favorite times of year because it creates opportunities to visit farms and meet directly with customers.

“I really enjoy sitting down with customers, reviewing their financials and talking about their plans moving forward,” Phil says. “Those conversations can make a big difference in helping them avoid surprises and make informed decisions.”

Collaboration Across Farm Credit East

Phil's role regularly intersects with multiple teams across the organization. Tax information and financial records often support lending decisions, while tax specialists, consultants, and loan officers work together to help customers address complex business challenges.

One project that stands out involved collaborating with fellow tax professionals and consultants to help a multi-generational operation navigate a significant tax situation. Through teamwork and careful planning, the group was able to save the family a substantial amount in taxes.

“It's rewarding when everyone brings their expertise together and you can make a meaningful impact for a customer,” Phil says.

That same collaborative mindset was critical during the COVID-19 pandemic, when Farm Credit East teams worked together to help eligible customers access programs such as Paycheck Protection Program (PPP) loans and employee retention credits.

The Most Rewarding Part of the Job

For Phil, the most memorable moments often come after the work is completed.

Whether he's helping a family transition a farm to the next generation, guiding a customer through the sale of a business, or helping someone reduce tax liability through proactive planning, the greatest reward is hearing that his work made a difference.

“When a customer thanks you and lets you know they appreciate what you've done for them, that's what sticks with you,” he says. “Knowing you've helped reduce stress and create a positive outcome is a great feeling.”

Life Outside the Office

When he's not working with customers, Phil enjoys spending time with his family. Being a dad is currently one of the most rewarding and important parts of his life.

Coworkers may also be surprised to learn that Phil spent years working in residential carpentry while serving as a seasonal tax preparer. In fact, he helped build a family cabin in Pennsylvania that remains a favorite getaway destination today.

“Sometimes my wife jokes that she doesn't know if I'm a better carpenter or a better tax preparer,” he says with a laugh.

One Piece of Advice

For anyone considering a career in tax services, Phil emphasizes the importance of communication.

“You don't always have to know the answer right away," he says. "But if customers know you'll respond, do the research, and get back to them with the right answer, you'll build trust that lasts a lifetime.”

For Phil, that's what being a tax specialist is all about: building relationships, helping customers succeed and making a positive impact on the agricultural community he cares deeply about.