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.

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

Client Testimonials

When my business partner and I found ourselves in a land investment that was abandoned by the developers, we had no reasonable economic choice but to walk away from our mortgage loan.  While we understood that there would likely be tax consequences, the magnitude of our exposure was not fully anticipated.  Thankfully, Mr. Bode was able to work with us to strategize a defensible tax position and mitigate the tax implications of our investment loan abandonment.  I would recommend that anyone facing an investment loss that has tax implications due to debt forgiveness give Gary a call.  It is always best to fully understand the circumstances and the tax rules and related options before paying a hefty bill.  Thanks Gary!

Brian D. - CPA

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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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Offer in Compromise CPA discusses 2012 IRS changes to Form 656

Offer in Compromise CPA Wilmington NC discusses 2012 changes to Form 656

Gary Bode, CPA: the IRS offers a lower threshold to qualify for an Offer in Compromise. For a free phone consult call (910) 399-2705.

Through Form 656, taxpayers can pitch an Offer in Compromise to the IRS to pay less tax than actually owed. The Offer in Compromise is the infamous technique that used to saturate late night TV ads, promising to force the IRS to accept “pennies on the dollar.” Subsequently the IRS tightened the qualifications secondary to public outcry. However, it remains a valuable technique and I think most tax CPAs consider it a weapon in their arsenal. And qualifying is easier now for some “distressed” taxpayers.

The IRS uses financial analysis to qualify taxpayers for an Offer in Compromise. Recent changes better reflect a recession economy by reducing the time frame of future potential income used for financial analysis. Plus the standard living allowance now allows some credit card debt and student loans. Ask your CPA about these changes in Form 656.

The IRS increased the flexibility of Offer in Compromise payments as part of their Fresh Start initiative, which includes penalty abatement and streamlined Installment Agreements. The IRS states an Offer in Compromise could resolve some taxpayer’s problems in two years as opposed to 4-5 years.

I’m an Offer in Compromise CPA with a virtual office to accommodate clients outside my Wilmington NC geographical base. Fewer folks qualify for an Offer in Compromise than the public perceives. State governments have restricted abuses by Offer in Compromise national chains. It doesn’t really cost much to determine if you qualify. If you don’t have a local Offer in Compromise CPA, consider giving me a call for a free phone consult at (910) 399-2705.

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