Thorstenson, Paul

Paul Thorstenson


Partner Tax Department

Industry Expertise
Support Team
  • (605) 716-8697

Paul’s greatest work “joy” is helping clients with successful business transactions, ownership transitions, and planning for their future. He also loves helping family businesses succeed through multiple generations. A family business is the greatest blessing and Paul was blessed with KT.

Paul joined KT in 1986. He has the pleasure of following in his father’s footsteps (Bud Thorstenson) in the leadership of the firm. He is a partner in the Rapid City office, and he previously served as the CEO of KT’s Executive Committee.

His business consulting skill set has grown from direct personal experiences from direct ownership of various local businesses, real estate investments, and stock investments. When Paul advises clients, he truly stands in their shoes and “makes believe it’s his money.” Every business dealing is a puzzle and no two are the same. Paul helps clients navigate these uncharted waters.


  • BS in Accounting – University of Minnesota

Professional Affiliations

  • American Institute of Certified Public Accountants
  • South Dakota CPA Society


  • Storybook Island fundraising
  • Cancer Care Institute fundraising


Outside of work, Paul enjoys riding horses with friends and family, harvesting and cooking South Dakota wild game, and ocean fishing as often as possible. Whether in a client meeting or on the trail, you will always find Paul giggling for no apparent reason. Life is short and he will be smiling his way through it.

Paul's Latest Posts

KT Insights
December 08, 2023

How to Plan Ahead for the 2026 Estate Tax Changes

The current federal estate and gift tax exemption is $12.92 million per person and $25.84 million per married couple...
KT Insights
September 09, 2021

Exciting News – Employee Retention Tax Credit and Supply Chain Disruptions

The ERTC is a lucrative tax credit available for 2020 and 2021.    Generally the two ways to qualify fo...
KT Insights
June 28, 2021

Roth 401K and the High-Income Earner—Whacky Thoughts

One of the most common questions posed to me as a tax professional is whether to choose the Roth option for a 401K c...