WI Tax & Accounting Services
Kurt Simmons CPA provides comprehensive tax and financial services to individuals and businesses throughout Wisconsin (WI). With its manufacturing, agriculture, and healthcare sectors, we understand the unique financial landscape that comes with doing business in Wisconsin.
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 Wisconsin clients without the need for an additional state license. This means Wisconsin 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 Wisconsin (WI)
WI Individual Tax Preparation
Comprehensive federal and Wisconsin state tax return preparation, including complex returns with investments, rental properties, and self-employment income.
Learn More →WI Business Tax Services
Tax preparation and planning for Wisconsin-based businesses including S-Corps, C-Corps, partnerships, LLCs, and sole proprietorships.
Learn More →WI Cryptocurrency Tax
Specialized crypto tax services for Wisconsin investors and traders. DeFi, NFTs, staking rewards, and exchange reporting handled with expertise.
Learn More →WI Trader Tax Services
Mark-to-market elections, wash sale tracking, and tax optimization strategies for active traders in Wisconsin.
Learn More →WI IRS Resolution
Professional representation before the IRS for Wisconsin taxpayers facing audits, collections, liens, levies, or offers in compromise.
Learn More →WI 83(b) Elections
Equity compensation planning and 83(b) election filing for Wisconsin startup employees and founders receiving restricted stock.
Learn More →WI Financial Statement Audits
Full-scope GAAS-compliant financial statement audits for businesses, nonprofits, and organizations requiring independent assurance.
Learn More →WI Review Engagements
Limited assurance engagements providing meaningful confidence in financial statements for lender requirements and stakeholder reporting.
Learn More →WI Compilations
Professionally prepared financial statements from management-provided data for internal reporting, small business needs, and bank presentations.
Learn More →WI Agreed-Upon Procedures
Targeted, customized engagements designed to address specific areas of concern with flexible scope tailored to stakeholder needs.
Learn More →WI Employee Benefit Plan Audits
DOL-compliant audits for 401(k), pension, and employee benefit plans meeting ERISA filing requirements and fiduciary obligations.
Learn More →WI Tax Strategy & Advisory
Proactive, year-round tax planning that identifies savings opportunities. Entity structure optimization, multi-state planning, and strategic initiatives.
Learn More →WI Cost Segregation Studies
Engineering-based analysis to accelerate depreciation deductions on commercial and residential rental properties, maximizing cash flow.
Learn More →WI Virtual CFO Services
Fractional CFO capabilities including financial modeling, cash flow management, KPI dashboards, and strategic financial leadership.
Learn More →WI Business Consulting
Operational assessments, process improvement, internal control design, and strategic planning to drive efficiency and profitability.
Learn More →WI Estate & Succession Planning
Comprehensive estate planning, business succession strategies, and wealth transfer optimization for business owners and high-net-worth individuals.
Learn More →WI 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 →Wisconsin Audit Services in Detail
Wisconsin 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:
Wisconsin Nonprofit Audits
Under Wisconsin's Charitable Organizations Act, charities registered with the Wisconsin Department of Financial Institutions are generally required to submit audited financial statements when annual contributions exceed $500,000, and reviewed financial statements when contributions are between $300,000 and $500,000. Audited statements are also routinely expected by the Greater Milwaukee Foundation, the Helen Bader Foundation, the Madison Community Foundation, the Bradley Foundation, the United Way affiliates, and major Wisconsin grantmakers.
Wisconsin 401(k) & Employee Benefit Plan Audits
Wisconsin 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 Wisconsin, including plans sponsored by Northwestern Mutual (Milwaukee — one of the world's largest mutual insurers), Kohl's and Harley-Davidson (Milwaukee), industrial machinery and food processing companies, GE Healthcare (Waukesha), Kraft Heinz (Madison), Wisconsin dairy and food cooperatives, and Green Bay paper and packaging manufacturers.
Wisconsin Single Audits (Uniform Guidance)
Wisconsin 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.
Wisconsin Lender, Bonding & Investor Audits
Wisconsin banks, surety companies, and Wisconsin-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.
Wisconsin Reviews & Compilations
Where a full audit is not required, we deliver review engagements (limited assurance) and compilations (no assurance) — both routinely accepted by Wisconsin lenders, by acquirers in WI M&A diligence, and by stakeholders requiring CPA-prepared financial statements.
Wisconsin (WI) Tax & Business Landscape
Key Wisconsin Tax Numbers. Personal income tax: graduated, 4 brackets, top rate 7.65% on income above approximately $315,000 (single) / $420,000 (MFJ). Corporate income/franchise tax: 7.9%. Sales and use tax: 5% state, plus county options up to 0.5% (combined typically 5.5%; with stadium districts in Milwaukee/Madison, total can reach 5.6%). Estate tax: none. Pass-through entity (PTE) elective tax: 7.9% available since tax year 2018 (S-corps) and 2019 (partnerships) — among the earliest state PTEs in the country. Long-term capital gains exclusion: 30% (60% for farm-asset gains) — meaning only 70% of LTCG is subject to WI tax. Manufacturing and Agriculture Credit (MAC): 7.5% credit on qualified production activities income, effectively reducing tax on manufacturing/ag income to near zero.
Filing Mechanics. Individuals file Form 1 (residents) or Form 1NPR (nonresidents and part-year residents). C-corporations file Form 4 (Corporate Franchise/Income Tax Return). S-corps file Form 5S; partnerships file Form 3. PTE election is made annually on Form 5S or Form 3. Returns are due April 15 and administered by the Wisconsin Department of Revenue.
WI Capital Gains Exclusion & M&A Credit — Two Big Levers. Wisconsin offers two tax preferences that materially reduce effective tax rates for residents and businesses: the 30% long-term capital gains exclusion (60% for farm assets) effectively reduces the top marginal rate on long-term gains from 7.65% to about 5.36%, making WI competitive for investors. And the Manufacturing and Agriculture Credit can effectively eliminate state income tax on qualifying manufacturer/farmer income. We help WI residents and businesses identify, document, and capture both.
Wisconsin Economy & Who We Serve. Wisconsin's economy is anchored by manufacturing (industrial machinery, food processing, healthcare equipment — Harley-Davidson, Rockwell Automation, GE Healthcare in Waukesha, Oshkosh Corp, Kohler), dairy and agriculture (the largest cheese producer in the U.S. — "America's Dairyland"), paper and forest products (Green Bay, Appleton, Wausau), insurance and financial services (Northwestern Mutual HQ in Milwaukee, the largest mutual life insurer; Acuity in Sheboygan), brewing (historic Milwaukee — Miller; New Glarus and craft), tourism (Door County, Wisconsin Dells, the Northwoods), and the Green Bay Packers. Our typical WI clients include manufacturers and ag businesses claiming MAC, Northwestern Mutual and insurance executives, dairy and farm operators, real estate investors, and high-net-worth families benefiting from the 30% capital gains exclusion.
CPA Mobility in Wisconsin. Wisconsin 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 Wisconsin clients without obtaining a separate Wisconsin individual license. Kurt Simmons holds active CPA licenses in Maryland, Delaware, and Florida, and we confirm all applicable Wisconsin Accounting Examining Board mobility and firm registration requirements before commencing any engagement.
Cities and Communities We Serve. Our virtual-first practice serves clients across all of Wisconsin, including Milwaukee (largest city; Northwestern Mutual, Harley-Davidson), Madison (state capital; UW-Madison, Epic Systems), Green Bay (Packers; paper), Kenosha, Racine, Appleton (Fox Valley), Waukesha, Eau Claire, Oshkosh (EAA AirVenture; Oshkosh Corp), La Crosse, Wausau, Sheboygan (Kohler; Acuity), the Door County peninsula, the Northwoods, and every Wisconsin county.
Why Wisconsin Clients Choose Us
- GAAS-compliant audit, review, and compilation experience for nonprofits, benefit plans, and privately held businesses
- Deep expertise in WI-specific issues: Wisconsin Manufacturing and Agriculture Credit (MAC) qualification and documentation, the 30% long-term capital gains exclusion (60% for farm assets), WI PTE elections (one of the earliest in the country), and Northwestern Mutual / insurance industry 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 WI tech/biotech (Madison; Epic Systems) 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
Wisconsin CPA — Frequently Asked Questions
Do I need a Wisconsin-licensed CPA, or can an out-of-state CPA handle my WI tax and audit work?
Wisconsin 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 Wisconsin clients without holding a separate Wisconsin individual license. Kurt Simmons holds active CPA licenses in Maryland, Delaware, and Florida, and we confirm any applicable firm-level Wisconsin Accounting Examining Board registration before commencing attest engagements.
What is Wisconsin's income tax rate, and when is the WI return due?
Wisconsin has a graduated personal income tax with four brackets and a top rate of 7.65% on income above approximately $315,000 (single) / $420,000 (MFJ). Form 1 (residents) or Form 1NPR (nonresidents and part-year residents) is due April 15.
Does Wisconsin have a SALT-cap workaround for partnerships and S-corps?
Yes. Wisconsin was actually among the earliest states to enact a Pass-Through Entity Tax election, effective for tax years beginning on or after January 1, 2018 (initially for S-corps; expanded to partnerships in 2019). Eligible entities elect to pay 7.9% at the entity level, and members receive a corresponding credit on Form 1. The election is made annually on Form 5S (S-corp) or Form 3 (partnership).
What is Wisconsin's capital gains exclusion?
Wisconsin allows a 30% exclusion (60% for capital gains from farm assets) on long-term capital gains for assets held more than one year — meaning only 70% of long-term capital gains are subject to Wisconsin tax. This is one of the most generous state-level capital gains preferences in the U.S. and materially reduces the effective tax rate on investment gains for WI residents.
What is the Wisconsin Manufacturing and Agriculture Credit?
Wisconsin's Manufacturing and Agriculture Credit (MAC) is a refundable credit equal to 7.5% of qualified production activities income for manufacturing and agricultural businesses. Combined with the M&A Credit's interaction with the federal Section 199A deduction, qualifying Wisconsin manufacturers and farmers can effectively reduce their state income tax on manufacturing/ag income to near zero. We help WI manufacturers and agricultural businesses claim and document the credit.
When does my Wisconsin nonprofit need an audit?
Under Wisconsin's Charitable Organizations Act, charities registered with the Wisconsin Department of Financial Institutions are generally required to submit audited financial statements when annual contributions exceed $500,000, and reviewed financial statements when contributions are between $300,000 and $500,000 (these thresholds are subject to adjustment). 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 Wisconsin clients outside Milwaukee and Madison?
Yes. Our practice is virtual-first, so we serve clients across all of Wisconsin — including Green Bay, Kenosha, Racine, Appleton, Waukesha, Eau Claire, Oshkosh, La Crosse, Wausau, Sheboygan, the Door County peninsula, the Northwoods, and every Wisconsin county — with the same level of access and service.