We Prepare Tax Returns!

We prepare most type of tax returns:


S Corporation.

C Corporation.




Gary Bode, CPA is a Master's Degreed, nation wide accountant offering tax and business services. Member of AICPA and NCACPA. Our virtual office provides excellent service to long distance and international clients. Call (910) 399-2705 for a free phone consult.

Client Video Testimonials

Click here to watch some of our clients in their video testimonials!

Client Testimonials

I became totally and permanently disabled after a working for 44 years. I returned to college late in life (while working full-time) to fulfill my dream of becoming an RN and at that time found it necessary to secure student loans. Three years after being declared totally and permanently disabled my student loans were discharged. In January 2013 we received a 1099-C form declaring said student loans that were discharged however that amount could be considered as income for 2012. This was a large amount of money and we live on two pensions and social security income.

I started looking on the internet for information regarding 1099-C and felt that this was something that we could not handle alone. I made phone calls locally to a very reputable tax group in a city near us and they said it would cost $500 for an appointment and that they really prefer to do corporate taxes and they referred me to a local person who had worked for them at one time, we called and explained the situation and an appointment was made and then the comment was made that "I will have to do some research on this" and flags immediately went up and we called back and cancelled that appointment. I had been researching the IRSwebsite and every place else I could think of and I was not comfortable doing our own taxes this year. We called another local tax preparer that we had used in the past and made an appointment, however prior to the appointment, while still seeking information regarding our situation,

I came across a website for Gary l. Bode, MSA, CPA, PC in Wilmington, NC. I called Mr. Bodeand explained our situation and asked if he could help. He spoke very knowledgeably regarding the situation and stated that yes; he felt he could help us. As Mr. Bode was in North Carolina and we were in New York I scanned all of our documents including back-up documents for all of our claims and forwarded all to him. Mr. Bode kept in touch with us via email; we have spoken on the telephone several times and have become very comfortable with his knowledge and professionalism. Also, as I am a true "worrier" I have continued looking into information regarding our tax situation and I came upon another web page for Mr. Bode that included testimonials which spoke of his experience with this type of tax situation as it became prevalent during the recession. This reinforced in our minds that we had made the right decision in hiring this person as our tax preparer.

I share all of this as our taxes are now ready to be filed (we do owe tax for 2012 but not the astronomical figure we thought we were facing), and we are confident that they have been prepared with the utmost care by a gentleman who has an excellent working knowledge of the situation we faced and the tax laws that were applicable to said situation.


Bill and Carol

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Even though Gary enjoys helping colleagues, we no longer provide free consults to other tax preparers. He's happy to consult on an hourly billing basis if our schedule allows.

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CPA discusses Small Business Budgeting as a Tool for Cash Flow Management

A Wilmington NC CPA discusses budgeting in small businesses

If you'd like a free initial consult with a CPA in a small business accounting firm, please call (910) 399-2705

At some point, Wilmington NC Widgets, our demo company, became too complex for the owners to optimally manage without the proper tools.  Cash flow management is problematic in any small business, especially in a recession. But Budgeting, which predicts the expected cash coming in, the expected cash flow going out, and the timing thereof, is a good start.

“Creating the first budget may force the owner to think about the business in new ways, revealing un-tapped managerial potential.” 
Gary Bode, CPA
Wilmington NC Small Business Accountant

The CPA for Wilmington NC Widgets uses the past financial parameters and company statistics to make educated estimates for the company’s future cash inflows, cash outflows and when they will occur. The nature of estimates is that they become less reliable the further out in time they’re extended. So, using an Excel spreadsheet generally works because it is so easy to update. Most small business accounting software programs, like Intuit QuickBooks and Peachtree, export reports into Excel for further tweaking.  Income and expenses are categorized, vertically in the rows, on the left, with time frames using the columns horizontally. Excel’s powerful features allow significant automation too.  Calculations, like Financial Ratos, can be graphed over time.

The CPA for Wilmington NC Widgets knows the budget isn’t just an annual task; it needs monthly, or at least quarterly work, to keep it managerially useful. The estimated budget figures also have to be tempered by the owner’s knowledge of the general Widget industry and localized business conditions. For example:

  • Collecting on accounts receivable is slower for the Widget industry in December and January.  So, even though annual cash inflow is readily predictable, simply dividing that figure by 12 doesn’t work. 
  • The price of steel is going up in July which will increase the cost of widgets for WNW in mid September, and begin to affect cash flow on October. So. just using a rolling three month average for predicting widget expense causes a cash flow deficit in October if the price increase isn’t factored in. 
  • A local manufacturer, and major customer of WNW, is partially re-tooling in August.  Over lunch, the owner of WNW concludes widget sales will decrease by $5,000 in July but then increase an additional $1,000 per month starting in August. Under an annual budget, Wilmington NC Widgets “breaks even”; the $5000 lost in July equals the expected increase for the remainder of the year. But a monthly budget, and local business acumen, allows planning for the July shortfall.

Since the budget generally uses a monthly time frame, non monthly figures, like purchase of new equipment, can cause complications in a small business budget.  Sometimes a budget “saves” for an expected future lump sum by creating a monthly amount to be sequestered and eventually pay it. Not a bad idea. But sometimes a pure cash flow budget works best.  

Budgeting is sometimes unsuccessful in small businesses because:

  • The format of the  budget is not structured as cash flow.  Accounting conventions like depreciation are sometimes used, making it clumsy for a non accountant. Handling non monthly payments, like say an annual insurance premium, can also be problematic.
  • Calculations for cash flow estimates are often multi factorial and their inter-dependence is not completely understood by the owner. So the figures are not accurate enough to be useful. 
  • It takes time to learn any new financial tool and the owner may be too busy to do so. 
  • Beginning to run a company by the numbers can be disconcerting to an owner used to running things “off the cuff”.
  • The budget is not continuously refined and becomes obsolete.

The CPA for Wilmington NC Widgets knows it is the owner’s hard work and expertise that make WNW successful in a down economy.  But brilliant business minds have developed financial tools and refined them over centuries. You don’t have to be an accountant to build an accurate budget. But sometimes the wheel doesn’t have to be re-invented, just modified for a particular use. 

We’re a Wilmington NC CPA firm that wants to help you keep more of what you earn.  Budgeting is just one small business accounting service we provide.  For a free initial consult, call Gary Bode, MSA, CPA, PC at (910) 399-2705.

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