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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What is an S Corporation Amended Tax Return? | Form 1120-S CPA

Form 1120-S CPA S Corporation CPA

Your S Corporation’s CPA can amend Form 1120-S when appropriate.

The amended tax return for an S Corporation is simply another Form 1120-S. There’s distinction between amended tax returns and superseding tax returns based on Form 1120-S’s due date:

  • Supersede Form 1120-S by filing a new Form 1120-S before the original or extension due date.
  • Later, you can amend the Form 1120-S tax return by filing another version with box H4 checked. Usually, you have three years to do so.

The number one reason I’ve seen as a Form 1120-S CPA to amend the corporate return for new clients? Missed tax credits. Despite excellent communication with management, there are things that don’t show up in the QuickBooks file, One example is a Work Opportunity Tax Credit (WOTC), say for the Wounded Warrior Program of 2012. The S Corporation files the correct forms, expecting a payroll tax ongoing reduction. But the WOTC is a general business credit that doesn’t show up in the payroll records. Of course, there are lots of other reason to amend Form 1120-S tax returns too.

“The IRS probably scrutinizes amended tax returns so make the new Form 1120-S bulletproof.”
– Gary Bode, Form 1120-S CPA

Things to consider when your CPA amends Form 1120-S:

  • Remember most States need a separate amended S Corporation tax return.
  • Amended returns probably get audited more often.
  • Each change requires a reasonable explanation.
  • The reasonable explanation should be air tight, complete with all pertinent documentation and references to the proper IRS regulations.
  • There’s a three-year limit to amend Form 1120-S.
  • If the amended Form 1120-S isn’t required by the IRS, consider the cost effectiveness of filing it.
  • Schedule K-1 changes, so the shareholders need to file an amended tax return too.

I’m a Form 1120-S CPA that operates as an S-Corporation. So you know I keep up with the ongoing issues. Read some of the hundreds of posting on this website to get a feel for my abilities and proactive philosophy.  For a free consult, please call (910) 399-2705.

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