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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Sales Tax CPA discusses Compliance and Sales Tax Variables

Sales tax CPA discusses compliance

Gary Bode, CPA: usually we train your staff for sales tax chores and then offer support if and when needed. For a free phone consult, please call (920) 399-2705.

I’m a business CPA, so I see sales tax issues in multiple States, usually as part of the business start-up cycle.

Caution

Pay in full and on time. Every sales tax CPA sees companies get into trouble with these taxes. Penalties and interest mount up fast. The vendor collects these taxes from the customer and holds them in trust until depositing them with the State. So, criminal charges can be a consequence of non-compliance. Sad but true.

Don’t Double Pay

Generally, you’ll purchase your inventory without incurring sales tax. You collect and pay sales tax only on your sales. I’ve been engaged to recoup double taxation back from States.  Not fun.

Sorting Out Sales Tax Confusion; a Sales Tax CPA Tip

If you read your State’s sales tax regulations, they probably seem confusing. But your own specific compliance requirements, once determined, usually stay the same. Compliance eventually becomes another routine chore or series of chores. So here’s what I do as a Sales Tax CPA when facing a new situation. I get an understanding of your business and then call the Department of Revenue to help me determine the compliance requirements. Then I double-check that info with the Regulations.

Ongoing Compliance Tips

  • Schedule the sales tax tasks. Perhaps with the first bill paying cycle after the sales tax collection period ends. Don’t count on automatically remembering to do it, especially in the first few months in business.
  • Have a system in place to deal with the processes of calculating sales tax, preparing the form, paying it and keeping good documentation. For example, where do you pull the sales figures that form the basis of sales tax calculations? If you’re a retail merchant, for example, this might mean  producing the same POS report every month.
  • Use a spreadsheet to calculate the required sales tax figures. Unless the State has a web fill in form that does that for you. A good spreadsheet usually allows you to enter one figure, which then calculates all the sub totals. My spreadsheet shows data for a year at a time, unless the requirements change. Centralized data makes follow-up issues easier.
  • Keep consistent hard copies in chronological order. Every sales tax CPA has had to go back and reconstruct sales tax obligations for clients. Consistent, chronological documentation helps prevent problems and makes fixing any issues easier.
  • I suggest writing the entire process down and making it part of the operations manual. This helps allow other staff to pitch hit when the bookkeeper is off.

Complicating Issues

Generally, your Sales Tax CPA would setup your books to proactively accommodate sales tax calculations.

  • Multiple tiered sales tax e.g. local, County and State sub components.
  • Selling in multiple tax geographies. Even within a single State, there can be different County and local sales tax rates. This requires sub-categorizing sales by geographical region.
  • Selling items subject to different sales tax rates. This requires filtering sales by sales tax rate.
  • Providing goods and services. Generally, services don’t incur sales taxes.

I’m a national business CPA with a virtual office for long distant clients. My philosophy is to make your business as self-reliant as you want it. So, I’m generally involved in training your staff on how to handle ongoing sales tax obligations, and then offer support when needed. But we can handle the job for you as well, usually through one of our bookkeepers. For a free initial phone consult, please call (910) 399-2705.

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