Personal Returns in Spearfish
Spearfish residents do not file a South Dakota income tax return, but many have something to sort out on the federal side or with another state: a move from a state with income tax, a remote job for an out-of-state employer, a rental, a university job or a retirement plan. BOMCAS prepares personal returns for Spearfish households remotely and checks whether any other state still expects a return.
For residency and the federal basics statewide, read our personal tax guide for South Dakota. This page covers Spearfish newcomers, remote workers, students and retirees.
Newcomers and Part-Year Residents
Many newcomers to Spearfish arrive from states that tax income. In the year of the move, the former state usually taxes income earned while you lived there and may tax some income afterwards, such as wages for work performed there or the sale of property located there. To show you have left, change your driver's licence and vehicle registration, register to vote, move your banking and keep records of the move date. Some states look closely at people who keep a home or business ties behind.
Remote Workers
If you work remotely from Spearfish for a company based in another state, your wages are usually taxable only where you perform the work, and South Dakota has no income tax. A few states tax nonresidents who work remotely for employers located there for their own convenience. Check that your employer has stopped withholding for your former state once you move.
Black Hills State Students and Staff
Students and parents choose between the American opportunity credit and the lifetime learning credit and decide who claims the student. Graduate assistants and student workers may have tuition waivers and stipends with different tax treatment. University staff can contribute to 403(b) and other retirement plans, and we check that contributions and catch-up amounts are within limits.
Hospital and Health Workers
Nurses, technicians and other health staff often work extra shifts, travel contracts or second jobs. Travel nurses with tax-free stipends need to maintain a tax home to keep them tax-free, and the qualified overtime deduction available for 2025 through 2028 may apply to overtime premium pay.
Retirees
Spearfish is popular with retirees. We review the taxable share of social security, required minimum distributions, Roth conversions and qualified charitable distributions, and the additional federal deduction of up to $6,000 each for people 65 and older from 2025 through 2028, which is reduced at higher incomes.
Wyoming Jobs
Residents who work in Wyoming owe no Wyoming income tax, since Wyoming does not have one. Their federal return is the only income tax return for those wages, but they should check that the employer has not withheld tax for another state by mistake.
Rentals and Vacation Homes
Owners of long-term rentals or short-stay homes report income and expenses on Schedule E or, for rentals with substantial services, Schedule C. A home rented for fewer than 15 days in the year may have rental income that is not taxable, which can matter in rally week.
Buying and Selling Homes
Rising home values mean some Spearfish owners sell with large gains. A married couple can usually exclude up to $500,000 of gain on a main home they owned and lived in for two of the last five years, and a single owner up to $250,000. Gains on a cabin, rental or land do not qualify, and periods when the home was rented can reduce the exclusion.
What to Send
- W-2s, 1099s and K-1s.
- Your move date and closing statements if you bought or sold a home.
- Form 1098-T for students.
- Retirement and social security statements.
- Rental income and expenses.
- Last year's federal and state returns.
Spearfish Personal Tax Preparation Questions
I moved to Spearfish from Colorado this year. What do I file?
A federal return and usually a Colorado part-year resident return for the period before the move.
Can I rent my house during the rally without paying income tax?
If you rent your home for fewer than 15 days in the year, the rental income is generally not taxable, though sales and tourism tax may still apply.
Do I pay Wyoming tax on wages earned in Sundance?
No. Wyoming has no individual income tax.
Is there a new deduction for retirees?
From 2025 through 2028, people 65 and older can deduct up to an extra $6,000 each, reduced at higher incomes.
Talk to BOMCAS About Personal Tax Preparation in Spearfish
Business owners need their company returns and books completed first. Households with a nanny or caregiver can use payroll, and anyone renting during the rally should check sales and tourism tax. A move or retirement is a planning decision, unfiled former-state returns go through late filing, and Canadians can read about Canada–U.S. tax. Businesses that operate in other parts of South Dakota can use our state guides on business taxes, sales and use tax, bookkeeping, payroll, tax planning, late filing and Canada–U.S. tax, which all start from the South Dakota overview.
Let BOMCAS know about your Spearfish business or household and we will reply with next steps and the information we need for a quote. Reach us through the contact page or the form below, at 780-667-5250 or by email at info@bomcas.ca. All Spearfish services are gathered on the Spearfish overview. This page is general information and not advice for your situation.