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

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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S Corporation CPA discusses 2013 Medicare Tax Avoidance | Form 1120-S

S Corporation CPA Wilmington NC 1120-S

Gary Bode, CPA: an S Corporation can avoid the 2013 additional Medicare Tax. For a free phone consult, call (910) 399-2705.

Any S Corporation CPA will tell you distributions circumvent employment taxes all together. S Corporation distributions are the profit taken after paying the shareholders “reasonable compensation” (formal wages subject to employee and employer payroll taxes), as calculated on the annual 1120-S. I’ve been watching Congress try to close this loophole for decades. But at the moment it’s still there. Why? Surprise, many Congressional folks run their own businesses as S Corporations. Newt Gingrich and John Edwards, for example. So, S Corporations distributions aren’t covered under the “earnings” part of the new Medicare tax described below.

A 0.9% additional Medicare tax looms on the 2013 horizon. Currently Medicare tax is 2.9% on all wages, half from your employer, and half from your paycheck. In 2013, couples earning more than $250,000 per year ($200,000 for an individual) will pay an additional 0.9% on the amount of wages over $250K/$200K. For example a single person making $250K would incur an additional $450 {250,000-200,000) x .0.9%} tax that year.

“Remember your LLC can elect to be taxed as an S-Corporation.” 
– Gary Bode, S Corporation CPA

So, let’s say a husband and wife S Corporation pay themselves $150,000 and distribute $150,000 to themselves in a tax year. All the $150,000 of distributions escapes the Social Security and Medicare tax. An S Corporation CPA would try to structure one spouse’s salary above the annual Social Security threshold to save the (expected) 12.4% of Social Security Tax on that payroll component.

I’m an S Corporation CPA with a virtual/remote office to serve folks beyond my Wilmington NC site. I operate my CPA firm as an S Corporation, so you know I keep up with current developments. There are dozens of S Corporation postings on this website, including the “reasonable compensation” issue mentioned above. Just click “S Corporations” from the drop down category list in the right side bar or 1120-S from the Forms drop down box. For a free phone consult, call (910) 399-2705.

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