MA Tax & Accounting Services
Kurt Simmons CPA provides comprehensive tax and financial services to individuals and businesses throughout Massachusetts (MA). With its thriving biotech, education, and financial services sectors, we understand the unique financial landscape that comes with doing business in Massachusetts.
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 Massachusetts clients without the need for an additional state license. This means Massachusetts 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 Massachusetts (MA)
MA Individual Tax Preparation
Comprehensive federal and Massachusetts state tax return preparation, including complex returns with investments, rental properties, and self-employment income.
Learn More →MA Business Tax Services
Tax preparation and planning for Massachusetts-based businesses including S-Corps, C-Corps, partnerships, LLCs, and sole proprietorships.
Learn More →MA Cryptocurrency Tax
Specialized crypto tax services for Massachusetts investors and traders. DeFi, NFTs, staking rewards, and exchange reporting handled with expertise.
Learn More →MA Trader Tax Services
Mark-to-market elections, wash sale tracking, and tax optimization strategies for active traders in Massachusetts.
Learn More →MA IRS Resolution
Professional representation before the IRS for Massachusetts taxpayers facing audits, collections, liens, levies, or offers in compromise.
Learn More →MA 83(b) Elections
Equity compensation planning and 83(b) election filing for Massachusetts startup employees and founders receiving restricted stock.
Learn More →MA Financial Statement Audits
Full-scope GAAS-compliant financial statement audits for businesses, nonprofits, and organizations requiring independent assurance.
Learn More →MA Review Engagements
Limited assurance engagements providing meaningful confidence in financial statements for lender requirements and stakeholder reporting.
Learn More →MA Compilations
Professionally prepared financial statements from management-provided data for internal reporting, small business needs, and bank presentations.
Learn More →MA Agreed-Upon Procedures
Targeted, customized engagements designed to address specific areas of concern with flexible scope tailored to stakeholder needs.
Learn More →MA Employee Benefit Plan Audits
DOL-compliant audits for 401(k), pension, and employee benefit plans meeting ERISA filing requirements and fiduciary obligations.
Learn More →MA Tax Strategy & Advisory
Proactive, year-round tax planning that identifies savings opportunities. Entity structure optimization, multi-state planning, and strategic initiatives.
Learn More →MA Cost Segregation Studies
Engineering-based analysis to accelerate depreciation deductions on commercial and residential rental properties, maximizing cash flow.
Learn More →MA Virtual CFO Services
Fractional CFO capabilities including financial modeling, cash flow management, KPI dashboards, and strategic financial leadership.
Learn More →MA Business Consulting
Operational assessments, process improvement, internal control design, and strategic planning to drive efficiency and profitability.
Learn More →MA Estate & Succession Planning
Comprehensive estate planning, business succession strategies, and wealth transfer optimization for business owners and high-net-worth individuals.
Learn More →MA 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 →Massachusetts Audit Services in Detail
Massachusetts 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:
Massachusetts Nonprofit Audits (Form PC)
Under Massachusetts Attorney General regulations, public charities filing the annual Form PC are required to submit audited financial statements when annual gross support and revenue equals or exceeds $500,000, and reviewed financial statements when gross support and revenue is between $200,000 and $500,000. Audited statements are also routinely expected by the Boston Foundation, the Barr Foundation, MassChallenge, the United Way of Massachusetts Bay, and major Massachusetts grantmakers.
Massachusetts 401(k) & Employee Benefit Plan Audits
Massachusetts 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 Massachusetts, including plans sponsored by Cambridge biotech and pharma companies, Boston financial services and asset management firms, healthcare systems, and higher education institutions.
Massachusetts Single Audits (Uniform Guidance)
Massachusetts nonprofits, municipalities, 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 Schedule of Expenditures of Federal Awards (SEFA).
Massachusetts Lender, Bonding & Investor Audits
Massachusetts banks, surety companies, and Boston-area venture capital, private equity, and growth equity 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.
Massachusetts Reviews & Compilations
Where a full audit is not required, we deliver review engagements (limited assurance) and compilations (no assurance) — both routinely accepted by Massachusetts lenders for smaller credit facilities, by acquirers in MA lower-middle-market M&A diligence, and by stakeholders requiring CPA-prepared financial statements.
Massachusetts (MA) Tax & Business Landscape
Key Massachusetts Tax Numbers. Personal income tax: 5% flat rate on most income, with an additional 4% Fair Share Amendment surtax ("Millionaires Tax") on taxable income above approximately $1,053,750 (indexed annually) — for a top combined rate of 9%. Short-term capital gains: 8.5%. Corporate excise tax: 8% on net income (financial institutions 9%), plus a non-income property/net worth measure; minimum excise $456. Sales and use tax: 6.25%. Estate tax: applies above $2,000,000 with a "cliff" — if the estate exceeds the threshold, the tax is computed on the full estate. Pass-through entity excise (PTE): 5% elective rate under Chapter 63D, available since 2021, with a 90%-of-tax refundable credit to members preserving the federal SALT deduction.
Filing Mechanics. Individuals file Form 1 (residents) or Form 1-NR/PY (nonresidents and part-year residents). C-corporations file Form 355; S-corporations file Form 355S. Pass-through entities making the SALT-cap election file Form 63D-ELT. Returns are due April 15, occasionally extended to April 17 due to the combination of Patriots Day in Massachusetts and Emancipation Day in Washington, DC. Returns are administered by the Massachusetts Department of Revenue (DOR).
Residency & Multi-State Considerations. Massachusetts uses both a domicile test and a 183-day statutory residency test. With Rhode Island, New Hampshire, Connecticut, and Vermont as immediate neighbors, many MA residents have wages or business income sourced to those states and must navigate credit-for-taxes-paid mechanics. The COVID-era "convenience of the employer" rule for nonresident remote workers expired in 2021. We routinely prepare MA/NH, MA/RI, MA/CT, and multi-state combinations, and we handle MA estate tax planning around the $2M cliff.
Massachusetts Economy & Who We Serve. Massachusetts is a global hub for biotechnology and life sciences (Kendall Square in Cambridge, the Longwood Medical Area in Boston), higher education (Harvard, MIT, Tufts, BU, Northeastern, and dozens more), healthcare (Mass General Brigham, Boston Children's, Dana-Farber), financial services and asset management (Fidelity, State Street, Bain Capital, Wellington), robotics and advanced manufacturing, and technology. Our typical MA clients include biotech founders and executives with equity compensation, hedge fund and mutual fund professionals, academic and medical professionals, and high-net-worth families navigating the MA estate tax cliff.
CPA Mobility in Massachusetts. Massachusetts 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 Massachusetts clients without obtaining a separate Massachusetts individual license. Kurt Simmons holds active CPA licenses in Maryland, Delaware, and Florida, and we confirm all applicable Massachusetts Board of Public Accountancy mobility and firm registration requirements before commencing any engagement.
Cities and Communities We Serve. Our virtual-first practice serves clients across all of Massachusetts, including Boston (state capital; finance, healthcare, higher education), Cambridge (biotech, technology, MIT/Harvard), Worcester (healthcare, higher education, manufacturing), Springfield (insurance, healthcare), Lowell, Brockton, New Bedford, Quincy, Lynn, Newton, Framingham, the Cape and Islands, the Berkshires, and every Massachusetts community.
Why Massachusetts Clients Choose Us
- GAAS-compliant audit, review, and compilation experience for nonprofits, benefit plans, and privately held businesses
- Deep expertise in MA-specific issues: 4% Millionaires Tax surtax planning, MA estate tax "cliff" mitigation at $2M, Chapter 63D PTE elections, and multi-state issues for MA/NH/RI/CT commuters and remote workers
- 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 MA biotech and tech employees
- Technology-forward, virtual-first delivery — secure client portal, e-signature, and video consultations
- Transparent, fixed-fee engagements where possible — no surprise hourly invoices
Massachusetts CPA — Frequently Asked Questions
Do I need a Massachusetts-licensed CPA, or can an out-of-state CPA handle my MA tax and audit work?
Massachusetts 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 Massachusetts clients without holding a separate Massachusetts individual license. Kurt Simmons holds active CPA licenses in Maryland, Delaware, and Florida, and we confirm any applicable firm-level Massachusetts Board of Public Accountancy registration before commencing attest engagements.
What is the Massachusetts income tax rate, and when is the MA return due?
Massachusetts has a 5% flat personal income tax plus a 4% surtax (the "Fair Share Amendment" or "Millionaires Tax") on taxable income above approximately $1,053,750 (indexed annually), for an effective top rate of 9% on income above the threshold. Short-term capital gains are taxed at a higher 8.5% rate. Form 1 is due April 15 (sometimes April 17 due to Patriots Day in MA combined with Emancipation Day in DC).
Does Massachusetts really have an estate tax with a $2 million threshold and a "cliff"?
Yes. Massachusetts imposes its own estate tax with a threshold of $2,000,000. If your estate exceeds $2 million, the tax is computed on the entire estate, not just the excess above the threshold — this is the MA estate tax "cliff." MA does provide a credit that effectively shields the first $2 million from tax, but the cliff still creates planning complexity for estates approaching the threshold. State estate planning is critical for high-net-worth Massachusetts residents.
Does Massachusetts have a SALT-cap workaround for partnerships and S-corps?
Yes. Massachusetts enacted an elective Pass-Through Entity Excise (PTE) under Chapter 63D effective for tax years beginning on or after January 1, 2021. Eligible S-corps and partnerships pay a 5% entity-level tax on qualified income, and members receive a refundable credit equal to 90% of the tax paid — preserving the federal SALT deduction at the entity level. The election is made on Form 63D-ELT.
Does Massachusetts apply a "convenience of the employer" rule to remote workers?
Massachusetts briefly applied a temporary rule during the COVID emergency that taxed nonresident remote workers based on their pre-pandemic office location. That rule expired in 2021 and was challenged in litigation by New Hampshire. Today, nonresidents who work remotely for MA-based employers from outside Massachusetts are generally not subject to MA income tax on those wages. We help with multi-state nexus issues for remote workers, particularly for residents in NH, RI, and CT.
When does my Massachusetts nonprofit need an audit?
Under Massachusetts Attorney General regulations governing public charities, organizations filing Form PC are required to submit audited financial statements when annual gross support and revenue equals or exceeds $500,000, and reviewed financial statements when gross support and revenue is between $200,000 and $500,000. Federal Single Audit requirements under 2 CFR Part 200 apply separately when federal award expenditures exceed $1,000,000 in a fiscal year.
Do you serve Massachusetts clients outside Boston and Cambridge?
Yes. Our practice is virtual-first, so we serve clients across all of Massachusetts — including Worcester, Springfield, Lowell, Brockton, New Bedford, Quincy, Lynn, Newton, Framingham, the Cape and Islands, the Berkshires, and every Massachusetts community — with the same level of access and service.