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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Payroll CPA says: Do your own payroll!

CPA in Wilmington NC discusses payroll services

If you need payroll accounting support, please consider calling us at (910) 399-2705

Payroll accounting just doesn’t change that much.  Once the process is setup, it stays the same. Just different numbers.  Sometimes a company just needs a payroll CPA for training and occassional support.

In the past five years a number of local and national payroll accounting services marketed themselves to both CPAs and companies in Wilmington NC.  They have a point: payroll can be complicated and incurs stiff IRS penalties for errors.  But outsourced payroll’s biggest contribution is just collecting payroll and payroll related taxes on payday.  So, companies without good cash flow discipline don’t caught in a quagmire of back taxes, escalating penalties and interest.  But as a payroll CPAs, I say you can handle your own payroll.  Those outsourced fees are high.  We will help train the staff and then standby as a safety net if and when needed.

“While we offer full payroll accounting services, our philosphy is to make your company as self sufficient as you want it to be.  Sometimes a little training, backed by our safety net of support, is all that’s required.”
-Gary Bode, payroll CPA 

The HIRE Act, the biggest payroll change to come down the pike in awhile, is a great incentive to employers, but is easy to administer, once someone shows you how.  See our W-11 post too.  Here’s our comprehensive payroll example.

Payroll Accounting’s Greatest Service: cash flow management by collecting payroll taxes up front

Does your small business accountant think of payroll related cash flow in terms of net pay?  Only to come up short when payroll taxes are due?  Missing these IRS 941 deposit deadlines usually begins a slow, downward cash flow spiral. Penalties of up to 10% are further exacerbated by interest.  Form 941 deposits made with intent to satisfy the next deposit are applied by the IRS to the first missed payment.  Bingo. More penalties and interest.  Cash flow quagmire.  Certain payroll tax funds are held in Trust for the US Treasury, so non-payment can incur criminal charges by the IRS. 

Payroll CPA services collect payroll and payroll related taxes on payday, which is appropriate to avoid this net pay mindset.  But most companies can:

  • Calculate these figures properly.
  • Sequester all funds.
  • Remit them on time to the taxing agencies

No rocket science, just some easy math and discipline.

Fringe Benefits

Here’s where the sales pitch for a payroll accounting services may make sense.  Fringe benefits are confusing. Unless someone shows you how.  Then it’s easy.  Again, as a payroll CPA I try to make you self sufficient in Payroll, with us as a safety net.  Paychex has expanded into providing fringe benefits, and from what I’ve seen, at reasonable cost.  So incurring their payroll service fees, as a gateway into utilizing these fringe benefits, might make sense.

Your Payroll Accounting Software

Be sure the updates are installed properly.  Even Quickbooks payroll requires knowlegable setup.  Payroll has lots of intrinsic check points, so you know when the numbers are “off”.  Instead of providing full payroll services, sometimes we just spot check a few items every quarter.

Exempt Employees and Fair Labor Standards Act

Overtime is a huge issue right now.  It is just easier to be completely legal.   Control the overtime worked, but pay it to folks who qualify and worked OT.  This link shows which employees are exempt from overtime.  Look it up once and you’re set.  You don’t need to pay additional fees:  the government comes straight out and says who is who and which is which. Note you can use this info to proactively structure work load so you can legally make some over time exempt. 

Employees vs. Contract Labor

Companies try to avoid employment taxes and benefits by classifying true employees as subcontractors.  There is an IRS initiative now to stop this practice.  Possible consequences include making the company responsible for both the employee’s and employer’s share of payroll taxes retroactively if they find a mis-classified employee.  Most of these intentional mis-classifications are easy to spot, even on a low-level tax audit.

Garnishments

Child support, student loans, back taxes etc.  Again these are easy to administer once someone shows you how.

For a free consult by a Wilmington NC payroll CPA offering payroll services and support, please consider calling us at (910) 399-2705.

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