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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NC Divorce CPA discusses Redemption of Closely Held Corporate Stock in Divorce Settlements | Form 1120-S and Form 8824

Wilmington NC divorce CPA discusses closely held stock tranfers in divorce settlements.

Gary Bode, divorce CPA. Many divorce consequences consequences can be avoided. For a free initial phone consult, please call 399-2705.

Divorcing couples sometimes own all the stock of an S Corporation. Divorce property settlements can decree transfer of one spouse’s shares to the other spouse. Recent court cases define the tax treatment of such stock transfers. A divorce CPA consults on these tax implications and ensures correct preparation on the S Corporation’s Form 1120-S. We  also prepare Form 8824 if required.

“One spouse can escape taxation in divorce stock transfers. Which one? It depends on the divorce decree. Being forewarned is to be forearmed.”
Gary Bode, Wilmington NC divorce CPA and tax accountant

Stock redemption is tax-free to the transferring spouse only if the receiving spouse “accepts” it as a constructive dividend, and then foots the tax bill.

Many other divorce tax issues can be addressed proactively, but often aren’t. Here are a few issues discussed in our previous posts:

  • General discussion of Form 8824, reporting like kind exchanges of property, sometimes required in divorces.
  • Filing status of that last Form 1040. The implications of Married Filing Separately.
  • Form 8857 which requests relief from post divorce tax consequences perpetrated by your ex-spouse.
  • Form 8379, Injured Spouse Allocation.
  • Simply changing your address with the IRS  may prevent the clock running out on some divorce issues. Form 8822. Covering the basics is important.
  • Divorce retirement benefit splitting – QDROs.

We’re a Wilmington NC CPA divorce firm with a virtual office allowing us to provide service to a broader geographical base.

Maybe your town has excellent divorce CPAs. If not, give us a call for a free initial consult at (910) 399-2705.

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