TX Tax & Accounting Services
Kurt Simmons CPA provides comprehensive tax and financial services to individuals and businesses throughout Texas (TX). With its no state income tax and massive energy and tech economy, we understand the unique financial landscape that comes with doing business in Texas.
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 Texas clients without the need for an additional state license. This means Texas 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 Texas (TX)
TX Individual Tax Preparation
Comprehensive federal and Texas state tax return preparation, including complex returns with investments, rental properties, and self-employment income.
Learn More →TX Business Tax Services
Tax preparation and planning for Texas-based businesses including S-Corps, C-Corps, partnerships, LLCs, and sole proprietorships.
Learn More →TX Cryptocurrency Tax
Specialized crypto tax services for Texas investors and traders. DeFi, NFTs, staking rewards, and exchange reporting handled with expertise.
Learn More →TX Trader Tax Services
Mark-to-market elections, wash sale tracking, and tax optimization strategies for active traders in Texas.
Learn More →TX IRS Resolution
Professional representation before the IRS for Texas taxpayers facing audits, collections, liens, levies, or offers in compromise.
Learn More →TX 83(b) Elections
Equity compensation planning and 83(b) election filing for Texas startup employees and founders receiving restricted stock.
Learn More →TX Financial Statement Audits
Full-scope GAAS-compliant financial statement audits for businesses, nonprofits, and organizations requiring independent assurance.
Learn More →TX Review Engagements
Limited assurance engagements providing meaningful confidence in financial statements for lender requirements and stakeholder reporting.
Learn More →TX Compilations
Professionally prepared financial statements from management-provided data for internal reporting, small business needs, and bank presentations.
Learn More →TX Agreed-Upon Procedures
Targeted, customized engagements designed to address specific areas of concern with flexible scope tailored to stakeholder needs.
Learn More →TX Employee Benefit Plan Audits
DOL-compliant audits for 401(k), pension, and employee benefit plans meeting ERISA filing requirements and fiduciary obligations.
Learn More →TX Tax Strategy & Advisory
Proactive, year-round tax planning that identifies savings opportunities. Entity structure optimization, multi-state planning, and strategic initiatives.
Learn More →TX Cost Segregation Studies
Engineering-based analysis to accelerate depreciation deductions on commercial and residential rental properties, maximizing cash flow.
Learn More →TX Virtual CFO Services
Fractional CFO capabilities including financial modeling, cash flow management, KPI dashboards, and strategic financial leadership.
Learn More →TX Business Consulting
Operational assessments, process improvement, internal control design, and strategic planning to drive efficiency and profitability.
Learn More →TX Estate & Succession Planning
Comprehensive estate planning, business succession strategies, and wealth transfer optimization for business owners and high-net-worth individuals.
Learn More →TX 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 →Texas Audit Services in Detail
Texas 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:
Texas Nonprofit & Charitable Organization Audits
Texas does not impose a statewide audit requirement on nonprofits, but audited financial statements are routinely required by major Texas funders — including the Houston Endowment, the Meadows Foundation, the Sid W. Richardson Foundation, the Communities Foundation of Texas, and the United Way of Greater Houston — as well as by federal subrecipient grantors. We deliver nonprofit audits that meet major funder expectations and Form 990 supporting requirements.
Texas 401(k) & Employee Benefit Plan Audits
Texas 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 Texas, including plans sponsored by Houston energy companies, Dallas–Fort Worth professional services firms, Austin technology companies, and the Texas Medical Center healthcare network.
Texas Single Audits (Uniform Guidance)
Texas 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 Schedule of Expenditures of Federal Awards (SEFA).
Texas Lender, Bonding & Investor Audits
Texas banks (Frost, Comerica, regional and community banks), surety companies, and energy and venture 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.
Texas Reviews & Compilations
Where a full audit is not required, we deliver review engagements (limited assurance) and compilations (no assurance) — both routinely accepted by Texas lenders for smaller credit facilities, by acquirers in TX lower-middle-market M&A diligence, and by stakeholders requiring CPA-prepared financial statements.
Texas (TX) Tax & Business Landscape
Key Texas Tax Numbers. Personal income tax: none — Texas is one of nine states with no broad-based personal income tax (constitutionally protected). Corporate income tax: none. Texas Franchise Tax (margin tax): 0.375% for retailers and wholesalers, 0.75% for most other businesses, calculated on margin (the lesser of total revenue minus COGS, total revenue minus compensation, 70% of total revenue, or total revenue minus $1 million); No-Tax-Due threshold of approximately $2.47 million in total revenue (entities below the threshold owe no tax but must still file the Public Information Report). Sales and use tax: 6.25% state, with local add-ons up to a combined 8.25%. Estate tax: none. Property tax: among the highest effective rates in the nation (no state income tax means schools and counties rely on property tax).
Filing Mechanics. No individual income tax return. Corporate, S-corp, LLC, and partnership entities file the Texas Franchise Tax Report on Form 05-158-A (long form) or Form 05-169 (E-Z computation), plus the Public Information Report on Form 05-102. Texas franchise tax returns are due May 15 (not April 15). Returns are administered by the Texas Comptroller of Public Accounts.
Residency & Relocation Planning. Texas has no personal income tax, so there is no state-level residency audit risk for Texas tax purposes. However, residents who recently moved to Texas from high-tax states (CA, NY, IL, NJ, MA) often face residency audit exposure from their former state — particularly if the move coincided with a major liquidity event. We help document genuine Texas domicile (driver's license, voter registration, homestead exemption, days-in-state log) to defend against former-state audits, and we coordinate pre-departure planning for clients still in transition.
Texas Economy & Who We Serve. Texas is the second-largest state economy in the U.S., anchored by energy (oil, gas, and growing renewables in the Permian Basin and Gulf Coast), technology ("Silicon Hills" in Austin), aerospace and defense (Houston/Johnson Space Center, Lockheed Martin in Fort Worth), healthcare (the Texas Medical Center in Houston is the largest medical complex in the world), financial services in Dallas, agriculture and ranching, logistics, and a rapidly expanding semiconductor and crypto sector. Our typical TX clients include energy professionals, Austin tech founders and executives, real estate investors, crypto traders, and high-net-worth clients who have relocated from California, New York, or Illinois.
CPA Mobility in Texas. Texas 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 Texas clients without obtaining a separate Texas individual license. Kurt Simmons holds active CPA licenses in Maryland, Delaware, and Florida, and we confirm all applicable Texas State 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 Texas, including Houston (energy, healthcare, aerospace, port logistics), Dallas (financial services, telecom, defense), Austin (state capital; technology, semiconductors, music), San Antonio (military, healthcare, tourism), Fort Worth (aviation, defense, energy), El Paso, Arlington, Plano, Frisco, McKinney, Corpus Christi, Lubbock, the Rio Grande Valley, and every community across East, Central, West, and South Texas.
Why Texas Clients Choose Us
- GAAS-compliant audit, review, and compilation experience for nonprofits, benefit plans, and privately held businesses
- Deep expertise in TX-specific issues: Texas Franchise Tax planning and No-Tax-Due thresholds, residency documentation for clients moving from high-tax states, and federal tax planning that takes full advantage of Texas's no-income-tax status
- 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 (mark-to-market, wash sales), and 83(b) elections for Texas 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
Texas CPA — Frequently Asked Questions
Do I need a Texas-licensed CPA, or can an out-of-state CPA handle my TX tax and audit work?
Texas has adopted CPA mobility provisions under the Uniform Accountancy Act, which means a CPA in active good standing in another U.S. jurisdiction is generally authorized to provide tax, advisory, and attest services to Texas clients without holding a separate Texas individual license. Kurt Simmons holds active CPA licenses in Maryland, Delaware, and Florida, and we confirm any applicable firm-level Texas State Board of Public Accountancy registration before commencing attest engagements.
Does Texas have a personal income tax?
No. Texas is one of nine states with no broad-based personal income tax. Texas does, however, impose a Franchise Tax (also called the "margin tax") on most LLCs, corporations, and partnerships doing business in the state, and a 6.25% state sales tax with local add-ons up to a combined 8.25%.
What is the Texas Franchise Tax and who has to pay it?
The Texas Franchise Tax applies to LLCs, corporations, S-corps, limited partnerships, and most other entities doing business in Texas. Entities below the No-Tax-Due threshold (currently $2.47 million in total revenue) owe no tax but must still file the Public Information Report (Form 05-102). Above the threshold, the rate is 0.375% for retailers and wholesalers and 0.75% for most other businesses, calculated on margin (the lesser of total revenue minus COGS, total revenue minus compensation, 70% of total revenue, or total revenue minus $1 million). Returns are due May 15.
Does Texas have a SALT-cap workaround for partnerships and S-corps?
No. Because Texas has no personal income tax, there is no state pass-through entity election. The federal $10,000 SALT cap does not affect Texas residents in the same way it affects taxpayers in high-tax states — Texas residents typically itemize state and local taxes through property tax and sales tax.
I just moved to Texas from California or New York. What do I need to know?
Beyond the benefit of no state income tax, key issues: documenting genuine Texas residency to defend against your former state's potential residency audit (especially if the move coincided with a major liquidity event), the timing of any pre-move stock options or RSU exercises, Texas homestead exemption registration, and structuring LLCs or trusts to take advantage of Texas's favorable trust law and asset protection regime.
When does my Texas nonprofit need an audit?
Texas does not impose a state-mandated audit threshold for nonprofits. Audited financial statements are typically required by lenders, federal grantmakers, the United Way, the Meadows Foundation, the Houston Endowment, and similar major Texas funders. Federal Single Audit requirements under 2 CFR Part 200 apply when federal award expenditures exceed $1,000,000 in a fiscal year.
Do you serve Texas clients outside Houston, Dallas, and Austin?
Yes. Our practice is virtual-first, so we serve clients across all of Texas — including San Antonio, Fort Worth, El Paso, Arlington, Plano, Frisco, McKinney, Corpus Christi, Lubbock, and every community in the state — with the same level of access and service.