We Prepare Tax Returns!

We prepare most type of tax returns:

Individual. 

S Corporation.

C Corporation.

Partnership.

Payroll.

Amended.

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 used Gary’s services to file my 2012 income tax return. This was my first year having an accountant do my return, as I have always done it myself using TurboTax. However, this year I had cancelled debt from my old primary residence which I was forced to convert to a rental property after relocating out of state.

While it didn’t cost me anything to do the short sale, the income tax consequence from the cancelled debt, roughly $50,000 in my case, was enough to move me from the 15% tax bracket to the 25% tax bracket.  Needless to say, I was concerned about that.

Finances were already tight and my husband and I are expecting our first child this fall. So the possibility of owing income tax was stressing me out. However, Gary was great at relieving my fears.

He is extremely knowledgeable, answered all my questions and was very thorough. I knew I was in good hands. He kept in constant contact with me throughout the process, keeping me updated on the progress of my return and letting me know what paperwork he needed to complete my filing.

In my mind, best case scenario would have been to not owe any taxes. Second best would be to only owe a little. Well, you can imagine my surprise and delight when Gary told me I was actually due a refund of a little over $2,700.00!

To top it all off, I found Gary’s fee for service to be fair, competitive and affordable; especially given the complexity of this type of return. I am so glad I did not try and go it alone this year. I am extremely pleased with Gary’s service and would recommend him highly to anyone, in fact I already have. If you have cancelled debt from a short sale or foreclosure, don’t freak out. Take a deep breath and call or email Gary. I am grateful I did.

Angie Falke of Holiday, FL

Free Consult

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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Medicare CPA explains how to deduct Medicare Premiums as Self Employed Health Insurance on Line 29 of Form 1040 2012

Medicare CPA discusses self employment insurance deduction

Gary Bode, CPA: Many retired folks make money from hobbies. Now your Medicare Premiums can offset that income. For a free phonce conuslt call (910) 399-2705.

Your Social Security Benefit Statement, Form SSA-1099, shows deductions in Box 3 for various Medicare premiums. Medicare CPAs have long-held that Medicare is Self Employed Health Insurance and therefore deductible on Line 29 of Form 1040. And now the IRS finally agrees. An article in the Journal of Accountancy, on 7/16/2012, states the IRS Chief Counsel Advice (CCA) clarified this issue.

“Many folks run self employment businesses after they begin receiving Medicare benefits. Now you can deduct Medicare payments as a cost to offset that self employment income.” 
– Gary Bode Medicare CPA

But my CPA already deducts Medicare Payments as Medical Expense!

Sure and you had to until now. But this is problematic:

  • The medical expenses part of Schedule A (itemized dedutions) has a 7.5% adjusted gross income threshold. So if you had $50,000 of income, the first $3,750 of medical expense didn’t help lower your taxes.
  • The total of all the Schedule A Itemized Deductions has to exceed the IRS Standard deduction for it to decrease your taxes.
  • Many retired folks don’t exceed the IRS Standard Deduction until their health deteriorates.

Ask your Medicare CPA if any of your income allows deducting your Medicare premiums as self-employed health insurance.

What’s a Medicare CPA? A CPA with retired clients. Usually these folks have moderate to complex tax returns outside the scope of the tax chains or do it yourself software. Want a free phone consult? Just call (910)399-2705. We maintain a virtual office to accommodate long distance clients. Local client like the added convenience.

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