SC Tax & Accounting Services
Kurt Simmons CPA provides comprehensive tax and financial services to individuals and businesses throughout South Carolina (SC). With its manufacturing growth and business-friendly environment, we understand the unique financial landscape that comes with doing business in South Carolina.
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 South Carolina clients without the need for an additional state license. This means South Carolina 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 South Carolina (SC)
SC Individual Tax Preparation
Comprehensive federal and South Carolina state tax return preparation, including complex returns with investments, rental properties, and self-employment income.
Learn More →SC Business Tax Services
Tax preparation and planning for South Carolina-based businesses including S-Corps, C-Corps, partnerships, LLCs, and sole proprietorships.
Learn More →SC Cryptocurrency Tax
Specialized crypto tax services for South Carolina investors and traders. DeFi, NFTs, staking rewards, and exchange reporting handled with expertise.
Learn More →SC Trader Tax Services
Mark-to-market elections, wash sale tracking, and tax optimization strategies for active traders in South Carolina.
Learn More →SC IRS Resolution
Professional representation before the IRS for South Carolina taxpayers facing audits, collections, liens, levies, or offers in compromise.
Learn More →SC 83(b) Elections
Equity compensation planning and 83(b) election filing for South Carolina startup employees and founders receiving restricted stock.
Learn More →SC Financial Statement Audits
Full-scope GAAS-compliant financial statement audits for businesses, nonprofits, and organizations requiring independent assurance.
Learn More →SC Review Engagements
Limited assurance engagements providing meaningful confidence in financial statements for lender requirements and stakeholder reporting.
Learn More →SC Compilations
Professionally prepared financial statements from management-provided data for internal reporting, small business needs, and bank presentations.
Learn More →SC Agreed-Upon Procedures
Targeted, customized engagements designed to address specific areas of concern with flexible scope tailored to stakeholder needs.
Learn More →SC Employee Benefit Plan Audits
DOL-compliant audits for 401(k), pension, and employee benefit plans meeting ERISA filing requirements and fiduciary obligations.
Learn More →SC Tax Strategy & Advisory
Proactive, year-round tax planning that identifies savings opportunities. Entity structure optimization, multi-state planning, and strategic initiatives.
Learn More →SC Cost Segregation Studies
Engineering-based analysis to accelerate depreciation deductions on commercial and residential rental properties, maximizing cash flow.
Learn More →SC Virtual CFO Services
Fractional CFO capabilities including financial modeling, cash flow management, KPI dashboards, and strategic financial leadership.
Learn More →SC Business Consulting
Operational assessments, process improvement, internal control design, and strategic planning to drive efficiency and profitability.
Learn More →SC Estate & Succession Planning
Comprehensive estate planning, business succession strategies, and wealth transfer optimization for business owners and high-net-worth individuals.
Learn More →SC 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 →South Carolina Audit Services in Detail
South Carolina 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:
South Carolina Nonprofit Audits
Under South Carolina's Solicitation of Charitable Funds Act, charities registered with the SC Secretary of State are generally required to submit audited financial statements when annual gross revenue exceeds $500,000, and reviewed financial statements when revenue is between $250,000 and $500,000. Audited statements are also routinely expected by the Charleston Trident United Way, the Coastal Community Foundation, the Spartanburg County Foundation, the Sisters of Charity Foundation, and major South Carolina funders.
South Carolina 401(k) & Employee Benefit Plan Audits
South Carolina 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. We perform full-scope and §103(a)(3)(C) limited-scope benefit plan audits for 401(k), 403(b), and defined-benefit plans across South Carolina, including plans sponsored by BMW Manufacturing (Spartanburg — North America's only BMW assembly plant), Boeing's 787 Dreamliner facility (Charleston), Volvo Cars (Charleston), Mercedes-Benz Vans (Charleston), Michelin (multiple SC plants), Joint Base Charleston defense contractors, MUSC and Prisma Health, and Charleston-area tech and financial services.
South Carolina Single Audits (Uniform Guidance)
South Carolina nonprofits, municipalities, school districts, and pass-through subrecipients that expend $1,000,000 or more in federal awards in a fiscal year are subject to the Single Audit requirements of 2 CFR Part 200.
South Carolina Lender, Bonding & Investor Audits
South Carolina banks (South State Bank, First Citizens), surety companies, and South Carolina-based private equity, venture, and growth investors frequently require audited financial statements as a condition of credit facilities, surety capacity, or capital raises.
South Carolina Reviews & Compilations
Where a full audit is not required, we deliver review engagements (limited assurance) and compilations (no assurance) — both routinely accepted by South Carolina lenders and stakeholders requiring CPA-prepared financial statements.
South Carolina (SC) Tax & Business Landscape
Key South Carolina Tax Numbers. Personal income tax: graduated, top rate 6.2% in 2024 (declining annually under recent reform — was 6.4% in 2023, scheduled to continue stepping down toward 6.0%). Corporate income tax: 5% flat. Sales and use tax: 6% state, plus local options bringing the combined rate typically to 7%–9%. Estate tax: none (repealed 2002). Pass-through entity (PTE) elective tax: 3% flat preferential rate on active trade or business income, available since tax year 2022. SC Job Tax Credit: per-job credits from approximately $1,500 to $25,000 over 5 years (depending on county economic tier). SC Investment Tax Credit: 5-year credit on qualified manufacturing property.
Filing Mechanics. Individuals (residents and nonresidents/PY) file Form SC1040. C-corporations file Form SC1120. Partnerships file Form SC1065; S-corps file Form SC1120S. PTE election is made on Form I-435. Returns are due April 15 and administered by the South Carolina Department of Revenue.
Original-Equipment Manufacturers & the SC Incentive Package. South Carolina has aggressively used its tax-credit toolbox — Job Tax Credit, Investment Tax Credit, Job Development Credit (state withholding rebate), Fee-in-Lieu of Property Tax (FILOT), and Special Source Revenue Credits — to attract major industrial investment. The result: BMW's Spartanburg plant (the largest BMW factory in the world, producing the X3, X4, X5, X6, X7), Boeing's 787 Dreamliner facility in Charleston (the only place in the world the 787 is built), Volvo's Charleston plant, Mercedes-Benz Vans (Charleston), Michelin (multiple plants), and dozens more. We help SC manufacturers and OEM employees navigate the credit-claim and compliance side.
South Carolina Economy & Who We Serve. SC's economy is anchored by manufacturing (BMW, Boeing, Volvo, Mercedes, Michelin, etc. — concentrated in Spartanburg/Greenville Upstate and Charleston Lowcountry), tourism (Charleston, Hilton Head, Myrtle Beach, Greenville), the Port of Charleston (one of the largest U.S. ports), military (Joint Base Charleston, Fort Jackson, Parris Island, Shaw AFB), agriculture, and a rapidly growing tech and financial services sector in Charleston and Greenville. Our typical SC clients include BMW, Boeing, Volvo, and Mercedes manufacturing professionals with equity compensation, real estate investors riding strong relocation markets, retirees relocated from the Northeast, and high-net-worth families taking advantage of SC's no-estate-tax / favorable retirement income environment.
CPA Mobility in South Carolina. SC has adopted CPA mobility provisions under the Uniform Accountancy Act. Kurt Simmons holds active CPA licenses in Maryland, Delaware, and Florida, and we confirm all applicable South Carolina 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 South Carolina, including Charleston (Boeing 787; Volvo; Mercedes; port; tourism), Columbia (state capital; USC; Fort Jackson), Mount Pleasant, North Charleston, Rock Hill, Greenville (Upstate; Michelin; BMW supply chain), Spartanburg (BMW HQ), Summerville, Goose Creek, Hilton Head Island, Myrtle Beach, Beaufort (Parris Island), the Upstate, the Lowcountry, the Grand Strand, and every South Carolina county.
South Carolina Economy & Who We Serve. South Carolina's economy is anchored by advanced manufacturing (BMW, Boeing, Volvo, and Michelin), tourism along the coast, agriculture, logistics through the Port of Charleston, and a growing tech sector. We support South Carolina manufacturers, hospitality businesses, retirees, and real estate investors.
CPA Mobility in South Carolina. Under the AICPA/NASBA CPA Mobility Act adopted by South Carolina, a CPA licensed in good standing in another U.S. state may provide attestation, tax, and advisory services to South Carolina clients without obtaining a separate South Carolina license. Kurt Simmons is a CPA in active good standing in Maryland, Delaware, and Florida, and is fully authorized to provide the complete range of CPA services to South Carolina (SC) individuals, businesses, and nonprofits under this mobility framework.
Cities We Serve. While our practice is virtual-first and not tied to any single office, we regularly work with clients in Charleston, Columbia, North Charleston, Mount Pleasant, Rock Hill, Greenville, and Summerville, and throughout the rest of South Carolina.
Why South Carolina Clients Choose Us
- GAAS-compliant audit, review, and compilation experience for nonprofits, benefit plans, manufacturers, and privately held businesses
- Deep expertise in SC-specific issues: SC's flat-tax phase-down toward 6.0%, SC PTE election (3% flat preferential rate), SC Job Tax Credit / Investment Tax Credit / Job Development Credit / FILOT planning for manufacturers, residency planning for high-tax-state relocators, and BMW/Boeing/Volvo/Mercedes manufacturing 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 SC tech/Charleston 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
South Carolina CPA — Frequently Asked Questions
Do I need a South Carolina-licensed CPA?
South Carolina has adopted CPA mobility provisions under the Uniform Accountancy Act. Kurt Simmons holds active CPA licenses in Maryland, Delaware, and Florida, and we confirm any applicable firm-level South Carolina Board of Accountancy registration before commencing attest engagements.
What is South Carolina's income tax rate?
South Carolina has a graduated personal income tax with a top rate of 6.2% in 2024 (declining annually under recent reform — was 6.4% in 2023, scheduled to continue stepping down toward 6.0%). The SC corporate income tax is a flat 5%. Form SC1040 is due April 15.
Does South Carolina have a SALT-cap workaround?
Yes. South Carolina enacted an elective Pass-Through Entity Tax effective for tax years beginning on or after January 1, 2022. Eligible S-corps and partnerships pay 3% (a flat preferential rate) at the entity level on active trade or business income, and members receive a corresponding credit on SC1040. The election is made on Form I-435.
What manufacturing tax credits does South Carolina offer?
South Carolina offers among the most aggressive manufacturing-incentive packages in the country, including the Job Tax Credit (per-job credits ranging from approximately $1,500 to $25,000 over 5 years depending on county tier), the Investment Tax Credit (5-year credit on qualified manufacturing property), the Job Development Credit (rebate of state withholding for major projects), Fee-in-Lieu of Property Tax (FILOT) agreements, and Special Source Revenue Credits. These have helped attract BMW (Spartanburg), Volvo (Charleston), Mercedes-Benz Vans (Charleston), Boeing 787 Dreamliner production (Charleston), Michelin, and other major investments.
I'm relocating to South Carolina from New York or New Jersey. What residency steps do I need?
South Carolina has become a top destination for relocators from the Northeast. Beyond standard residency documentation (SC driver's license, voter registration, primary residence), key issues: timing the move ahead of major liquidity events to defend against your former state's residency audit, the SC homestead exemption for primary residences, and SC's relatively favorable retirement income exclusion (full Social Security exclusion plus deduction for retirement income over age 65). We provide pre-departure planning and ongoing residency documentation.
When does my South Carolina nonprofit need an audit?
Under South Carolina's Solicitation of Charitable Funds Act, charities registered with the SC Secretary of State are generally required to submit audited financial statements when annual gross revenue exceeds $500,000, and reviewed financial statements when revenue is between $250,000 and $500,000. Federal Single Audit requirements apply when federal expenditures exceed $1,000,000.
Do you serve South Carolina clients outside Charleston and Greenville?
Yes. Our practice is virtual-first, so we serve clients across all of South Carolina — including Columbia (state capital), Mount Pleasant, North Charleston, Rock Hill, Summerville, Goose Creek, Spartanburg (BMW), Hilton Head Island, Myrtle Beach, Beaufort, the Upstate, the Lowcountry, the Pee Dee region, and every South Carolina county.