
Estate & Gift Tax Compliance
- Form 706United States Estate (and Generation-Skipping Transfer) Tax Return
- Form 709United States Gift (and Generation-Skipping Transfer) Tax Return
Karen S. Schmidt is an independent CPA whose practice focuses on estate, gift and generation-skipping transfer tax, estate planning and probate, wealth transfer and succession planning, family limited partnership formation and operation, and trust administration.
Sharing specialized expertise without disrupting the relationship between CPAs providing traditional tax and accounting services and their clients is the cornerstone upon which Karen S. Schmidt, CPA, PLLC was founded.

Ms. Schmidt practices estate, gift and generation-skipping transfer tax. She works alongside the attorneys and CPAs a client already relies on.
Prior to forming Karen S. Schmidt, CPA, PLLC in 2011, Ms. Schmidt practiced with a regional CPA firm where she managed the Estate Planning and Probate Practice for its Midland and Odessa offices.


Tax projections, entity structure models, and liquidity testing are integral parts of the planning process.
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Planning for the transfer of family entities without fractionalizing assets.
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Implementation of an estate plan including asset allocation and trust funding.
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Analyze options to help clients achieve desired charitable planning.
Read moreEach credential below is earned by examination and maintained through required continuing education. The firm also holds active membership in the organizations that set professional standards for Certified Public Accountants.
Licensed in the State of Texas.
Administered by the National Institute for Excellence in Professional Education.






Deeply rooted with a knowledge and understanding of the industries that drive the Permian Basin.
The firm strives to work closely with the client’s advisory team, including attorneys, other CPAs, financial consultants, trust officers, and family office personnel.
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