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

The recession was hard on me. In 2009 the banks foreclosed a few of my rental properties, than issuing me 1099C's to make the situation even worse. This made my tax liability enormous, as a result I didn't file taxes for a couple of years. I started receiving letters about my unpaid taxes from the government and my job. The accountant I hired in the past really didn't know much about 1099C,,s. That's when I searched the web and found Gary a life saver to say the least, he knew exactly what to do. If I would not have waited three years to file I would not have lost thousands for filing late. I wish I would have found him sooner, the fact that he does taxes in any state is a plus. I truly cant say enough positive things about my experience doing business with Gary. Thanks Again.

Officer D, NYPD

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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Wilmington NC CPA Firm discusses Payroll Services and the HIRE Act

A Wilmington NC CPA discusses the HIRE Act

A Wilmington NC CPA discusses the HIRE Act

The Hire Act of 2010 gives a fantastic break to employers by eliminating their 6.2% Social Security tax matching component for wages paid after 3/18/10 – and through 12/31/10 – to certain newly hired employees.  Specifically, those previously unemployed.  There is an additional General Business Tax Credit of up to $1000 if those employees are retained for 52 weeks.  Payroll services should have implemented the HIRE Act with clients, but some apparently didn’t. 

“You haven’t lost your opportunity from the HIRE Act if you hired qualified employees after 2/4/10.  You can correct all four IRS Form 941s through IRS F0rm 940X and get a refund from the IRS.” 
Gary Bode, Wilmington NC CPA and payroll services supervisor

An Example

Say Wilmington NC Widgets, our example comapny, hires a new, previously unemployed, employee on 2/8/10 that meets the IRS HIRE Act qualifications.  WNW then pays the new employee $50,000 of gross wages in 2010, after March 18th.  Your company saves $3100 in 2010 (6.2% x $50,000) in payroll taxes that it would otherwise be required to pay.  Plus, if you keep the employee 52 weeks, you may qualify for an additional Business Credit claimed on the company’s tax return of up to $1000.  Which you claim on the 2011 Form 1040. Ask your CPA about these great tax breaks.

Under the Hiring Incentives to Restore Employment (HIRE) Act, enacted March 18, 2010, two new tax benefits are available to employers who hire certain previously unemployed workers (“qualified employees”).

The first, referred to as the payroll tax exemption, provides Wilmington NC Widgets with an exemption from the employer’s 6.2 percent share of social security tax on wages paid to qualifying employees, effective for wages paid from March 19, 2010 through December 31, 2010.  The IRS modified Form 941 to accomodate this payroll tax break.

In addition, for each qualified employee retained for at least 52 consecutive weeks, businesses will also be eligible for a general business tax credit, referred to as the new hire retention credit, of 6.2 percent of wages paid to the qualified employee over the 52 week period, up to a maximum credit of $1,000.  http://www.irs.gov/businesses/small/article/0,,id=220745,00.html

If you have a payroll service concern, or need help filing IRS Form 940X, please consider calling us for a free initial consult at (910) 399-2705.  We’re a Wilmington NC CPA Firm offering payroll services and support to the extent your company needs them.

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