THOMAS J. KUTAC, CPA
Partner

SIMONTON & KUTAC, L.L.P.

Thomas J. Kutac is a partner in the Houston-based accounting firm of Simonton & Kuta, L.L.P.  Mr. Kutac has more than twenty-five years experience in public accounting and is considered an expert in the area of estate planning, both pre and post mortem.  He has provided consultation to lending institutions, trust companies, trustees and executors involving the ownership of estate assets, estate and trust tax filings, and the distribution of assets to heirs and beneficiaries.

In addition, Mr. Kutac has considerable experience in the planning and execution of charitable gifts, including lead and remainder trusts, and has assisted clients with the formation, valuation and accounting for family limited partnerships, as well as the creation of life insurance trusts.

His consulting practice to high net worth clients has led him to develop a series of computer modules to guide the exercise of employee incentive stock options and the subsequent sale of that stock.  Additional computer models developed by Mr. Kutac have proved useful when advising clients regarding the rollover and distribution of employee benefit plan payments, particularly when attempting to determine the most beneficial distribution from large IRA’s to minimize income taxation and maximize the amounts available to pass on to chosen beneficiaries.

A significant number of Mr. Kutac’s clients are also in the real estate industry.  Most of these clients operate through limited partnerships or S corporations and rely on his expertise in accounting and auditing for matters such as income due to debt restructuring and maximization of depreciation deductions.

For more than twenty years, Mr. Kutac has provided accounting and tax assistance to agricultural lending institutions that are members of the Farm Credit System.  He has gained extensive knowledge in the agricultural cooperative area, IRS rulings and regulations peculiar to this industry and the regulations and practices of the Farm Credit Administration.

Mr. Kutac obtained a Bachelor of Business Administration degree from the University of Houston in 1971, with a major in accounting.  He passed the CPA examination in May 1972 and is a member of the American Institute of Certified Public Accountants, the Texas Society of CPAs and the Institute of Business Appraisers, Inc.