IN Tax & Accounting Services
Kurt Simmons CPA provides comprehensive tax and financial services to individuals and businesses throughout Indiana (IN). With its manufacturing and logistics corridor, we understand the unique financial landscape that comes with doing business in Indiana.
Under the CPA Mobility Act, our CPA — licensed in Maryland, Delaware, and Florida — is authorized to provide the full range of attestation, tax, and advisory services to Indiana clients without the need for an additional state license. This means Indiana individuals and businesses receive the same comprehensive service as our home-state clients: financial statement audits, tax strategy, IRS representation, virtual CFO services, and every other service we offer — delivered through our technology-forward, virtual-first practice model.
CPA Services Available in Indiana (IN)
IN Individual Tax Preparation
Comprehensive federal and Indiana state tax return preparation, including complex returns with investments, rental properties, and self-employment income.
Learn More →IN Business Tax Services
Tax preparation and planning for Indiana-based businesses including S-Corps, C-Corps, partnerships, LLCs, and sole proprietorships.
Learn More →IN Cryptocurrency Tax
Specialized crypto tax services for Indiana investors and traders. DeFi, NFTs, staking rewards, and exchange reporting handled with expertise.
Learn More →IN Trader Tax Services
Mark-to-market elections, wash sale tracking, and tax optimization strategies for active traders in Indiana.
Learn More →IN IRS Resolution
Professional representation before the IRS for Indiana taxpayers facing audits, collections, liens, levies, or offers in compromise.
Learn More →IN 83(b) Elections
Equity compensation planning and 83(b) election filing for Indiana startup employees and founders receiving restricted stock.
Learn More →IN Financial Statement Audits
Full-scope GAAS-compliant financial statement audits for businesses, nonprofits, and organizations requiring independent assurance.
Learn More →IN Review Engagements
Limited assurance engagements providing meaningful confidence in financial statements for lender requirements and stakeholder reporting.
Learn More →IN Compilations
Professionally prepared financial statements from management-provided data for internal reporting, small business needs, and bank presentations.
Learn More →IN Agreed-Upon Procedures
Targeted, customized engagements designed to address specific areas of concern with flexible scope tailored to stakeholder needs.
Learn More →IN Employee Benefit Plan Audits
DOL-compliant audits for 401(k), pension, and employee benefit plans meeting ERISA filing requirements and fiduciary obligations.
Learn More →IN Tax Strategy & Advisory
Proactive, year-round tax planning that identifies savings opportunities. Entity structure optimization, multi-state planning, and strategic initiatives.
Learn More →IN Cost Segregation Studies
Engineering-based analysis to accelerate depreciation deductions on commercial and residential rental properties, maximizing cash flow.
Learn More →IN Virtual CFO Services
Fractional CFO capabilities including financial modeling, cash flow management, KPI dashboards, and strategic financial leadership.
Learn More →IN Business Consulting
Operational assessments, process improvement, internal control design, and strategic planning to drive efficiency and profitability.
Learn More →IN Estate & Succession Planning
Comprehensive estate planning, business succession strategies, and wealth transfer optimization for business owners and high-net-worth individuals.
Learn More →IN Capital Markets Advisory
Securities compliance, FINRA regulatory guidance, and capital markets advisory for businesses navigating public offerings, private placements, and broker-dealer requirements.
Learn More →Indiana Audit Services in Detail
Indiana businesses, nonprofits, and benefit plan sponsors typically need an independent audit when state law, federal rules, lenders, grantmakers, or boards require external assurance. We perform GAAS-compliant attest engagements scoped to the specific assurance need — most commonly:
Indiana Nonprofit Audits
Indiana does not impose a state-mandated audit threshold for nonprofits beyond its general charitable solicitation registration. Audited financial statements are routinely required by major Indiana funders — including the Lilly Endowment (one of the largest U.S. private foundations, headquartered in Indianapolis), the Indianapolis Foundation, the Central Indiana Community Foundation, the United Way of Central Indiana, and federal subrecipient grantors. We deliver nonprofit audits that meet major funder expectations and Form 990 supporting requirements.
Indiana 401(k) & Employee Benefit Plan Audits
Indiana plan sponsors filing Form 5500 generally require an ERISA-compliant audit when the plan has 100 or more participants with account balances at the start of the plan year — the participant-counting rule effective post-SECURE 2.0. We perform full-scope and §103(a)(3)(C) limited-scope benefit plan audits for 401(k), 403(b), and defined-benefit plans across Indiana, including plans sponsored by Eli Lilly and Roche pharma operations in Indianapolis, Cummins (Columbus IN), Subaru and Toyota auto manufacturing plants, IU Health and other healthcare systems, and Notre Dame and Indiana University-affiliated employers.
Indiana Single Audits (Uniform Guidance)
Indiana nonprofits, municipalities, school districts, and pass-through subrecipients that expend $1,000,000 or more in federal awards in a fiscal year (the OMB threshold for fiscal years beginning on or after October 1, 2024) are subject to the Single Audit requirements of 2 CFR Part 200. We perform Uniform Guidance Single Audits, including major-program testing, internal control work, and preparation of the SEFA.
Indiana Lender, Bonding & Investor Audits
Indiana banks, surety companies, and Indiana-based private equity, venture, and growth investors frequently require audited financial statements as a condition of credit facilities, surety capacity, or capital raises. We deliver audited financials on the timeline lenders, bonding agents, and institutional investors need.
Indiana Reviews & Compilations
Where a full audit is not required, we deliver review engagements (limited assurance) and compilations (no assurance) — both routinely accepted by Indiana lenders, by acquirers in IN M&A diligence, and by stakeholders requiring CPA-prepared financial statements.
Indiana (IN) Tax & Business Landscape
Key Indiana Tax Numbers. Personal income tax: flat rate, declining annually — approximately 3.05% in 2024, 3.0% in 2025, with planned reductions toward 2.9% over the next several years. County local income tax (LIT): every Indiana county imposes its own local income tax ranging from approximately 0.5% to 3.38% — withheld based on county of residence/employment on January 1. Corporate income tax: 4.9%. Sales and use tax: 7%. Estate tax: none. Pass-through entity (PTE) elective tax: rate matches personal IT (~3.0%), available since tax year 2022. Indiana also has a constitutional property tax cap (1% of assessed value for homesteads, 2% for residential rental, 3% for other real property) that affects real estate planning.
Filing Mechanics. Individuals file Form IT-40 (residents) or IT-40PNR (nonresidents and part-year residents). Both forms include county tax computation. C-corporations file Form IT-20. PTE election is made on partnership and S-corp returns. Returns are due April 15 and administered by the Indiana Department of Revenue.
Indiana's County Income Tax — Don't Miss It. Indiana's county local income tax (LIT) is one of the most commonly missed wrinkles for new IN residents and multi-state filers. Your LIT is determined by your county of residence and county of principal employment as of January 1 of the tax year — if you live in one Indiana county and work in another, generally the resident-county rate applies. Rates range from approximately 0.5% to 3.38% depending on the county; some counties have adopted recent rate increases for public safety or economic development. We handle the complex multi-county apportionment for clients with mid-year moves.
Indiana Economy & Who We Serve. Indiana is a manufacturing powerhouse anchored by automotive (Toyota, Subaru, Honda, Cummins, GM, Allison Transmission), pharmaceutical/life sciences (Eli Lilly headquartered in Indianapolis — one of the world's largest pharma companies — plus Roche), steel (NW Indiana — Gary, Hammond), defense and aerospace (Crane Naval Surface Warfare Center, Rolls-Royce in Indianapolis), motorsports (Indy 500 — Indianapolis Motor Speedway), agriculture (corn, soybeans, hogs), distribution and logistics ("Crossroads of America"), and growing tech/AI. Our typical IN clients include Eli Lilly and pharma executives with equity compensation, Cummins/Allison/auto-supplier professionals, real estate investors, racing-industry clients, and high-net-worth families benefiting from Indiana's low-tax environment.
CPA Mobility in Indiana. Indiana has adopted CPA mobility provisions under the Uniform Accountancy Act, allowing CPAs in active good standing in another U.S. jurisdiction to provide tax, advisory, and (subject to applicable firm-level requirements) attest services to Indiana clients without obtaining a separate Indiana individual license. Kurt Simmons holds active CPA licenses in Maryland, Delaware, and Florida, and we confirm all applicable Indiana Board of Accountancy mobility and firm registration requirements before commencing any engagement.
Cities and Communities We Serve. Our virtual-first practice serves clients across all of Indiana, including Indianapolis (state capital; largest city; Eli Lilly, Indy 500, Salesforce), Fort Wayne, Evansville, South Bend (Notre Dame), Carmel and Fishers (Hamilton County — affluent Indianapolis suburbs), Bloomington (Indiana University), Hammond and Gary (Northwest Indiana), Lafayette/West Lafayette (Purdue), Muncie (Ball State), Anderson, Columbus (Cummins HQ), Terre Haute, and every Indiana county.
Why Indiana Clients Choose Us
- GAAS-compliant audit, review, and compilation experience for nonprofits, benefit plans, and privately held businesses
- Deep expertise in IN-specific issues: Indiana's flat-tax phase-down schedule, county local income tax (LIT) apportionment, IN PTE elections, Indiana property tax caps for real estate investors, and Indianapolis-area Eli Lilly/pharma equity compensation
- Capital markets background — Kurt Simmons has passed the Series 65 examination (Passed; not currently held as an active license) in addition to holding the CPA
- Specialized practices in cryptocurrency taxation, active trader tax, and 83(b) elections for IN tech/pharma/biotech startup employees
- Technology-forward, virtual-first delivery — secure client portal, e-signature, and video consultations
- Transparent, fixed-fee engagements where possible — no surprise hourly invoices
Indiana CPA — Frequently Asked Questions
Do I need an Indiana-licensed CPA, or can an out-of-state CPA handle my IN tax and audit work?
Indiana has adopted CPA mobility provisions under the Uniform Accountancy Act. A CPA in active good standing in another U.S. jurisdiction is generally authorized to provide tax, advisory, and attest services to Indiana clients without holding a separate Indiana individual license. Kurt Simmons holds active CPA licenses in Maryland, Delaware, and Florida, and we confirm any applicable firm-level Indiana Board of Accountancy registration before commencing attest engagements.
What is Indiana's income tax rate, and what's the deal with county income tax?
Indiana has a flat state personal income tax that has been declining annually under recent reform: approximately 3.05% in 2024, 3.0% in 2025, with planned reductions toward 2.9% over the next several years. CRITICALLY, every Indiana county also imposes its own local income tax (LIT) ranging from approximately 0.5% to 3.38%, withheld based on the county where you lived or worked on January 1. Most multi-state filers and new IN residents are surprised by this. Form IT-40 is due April 15.
Does Indiana have a SALT-cap workaround for partnerships and S-corps?
Yes. Indiana enacted an elective Pass-Through Entity Tax effective for tax years beginning on or after January 1, 2022. Eligible S-corps and partnerships pay an entity-level tax tracking the personal income tax rate (currently approximately 3.0%), and members receive a corresponding refundable credit on Form IT-40.
How is the Indiana county income tax determined?
Indiana's county local income tax (LIT) is determined by your county of residence and county of principal employment as of January 1 of the tax year. If you live in one Indiana county and work in another, generally the resident-county rate applies. Rates range from approximately 0.5% to 3.38% depending on the county. Some counties have adopted recent rate increases for public safety or economic development. We handle the complex multi-county apportionment for clients with movement during the year.
When does my Indiana nonprofit need an audit?
Indiana does not impose a state-mandated audit threshold for nonprofits beyond its general charitable solicitation registration. Audited financial statements are typically required by lenders, federal grantmakers, the Lilly Endowment, the Indianapolis Foundation, the Central Indiana Community Foundation, the United Way affiliates, and major Indiana funders. Federal Single Audit requirements under 2 CFR Part 200 apply when federal award expenditures exceed $1,000,000 in a fiscal year.
I work for Eli Lilly or another major Indianapolis employer. What special tax issues apply?
Indianapolis-area corporate executives — particularly at Eli Lilly, Salesforce, Cummins (Columbus IN), Roche, Anthem/Elevance — frequently face specialized issues we handle: equity compensation including RSUs and stock options with multi-year vesting and AMT considerations, deferred compensation under §409A, the Indiana PTE election for partner positions, and Marion County / Hamilton County / Boone County local income tax for residents of Indianapolis suburbs.
Do you serve Indiana clients outside Indianapolis?
Yes. Our practice is virtual-first, so we serve clients across all of Indiana — including Fort Wayne, Evansville, South Bend, Carmel, Fishers, Bloomington, Hammond, Gary, Lafayette, Muncie, Anderson, Columbus, Terre Haute, and every Indiana county — with the same level of access and service.