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.

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Client Testimonials

avatar"Gary Bode has just completed our tax returns for the first time and I am totally satisfied with his level of service. He has been very attentive, asked all the right questions, and not only fixed some problems from our previous accountant, but also set us up for future success through a thorough and professional analysis of our corporate structure in conjunction with several personal variables.

I have worked with quite a few CPA’s in my life, and Gary has proven himself to be one of the most thoughtful, insightful, and pleasant fellows I have ever worked with."—J. Louis Tabor

Tabor Foods, LLC

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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 CPA Firm Comments on Form 1120-S and NC CD 401S | S Corporation Tax Return Considerations

Tax form NC 401S discussed by Wilmington NC CPA firm.

Gary Bode, CPA: NC 401S deserves as much consideration as IRS tax Form 1120-S. If you'd like a free initial consult, please call us at 399-2705.

Federal S Corporation tax return preparation, on IRS Form 1120-S, allows pass through of profit to the underlying shareholder’s Form 1040.  18 States follow the federal example, or just don’t require any S Corporation return.  But NC requires a complex tax return tax (Form NC 401S), that taxes S Corporations and is one of nine States requiring Estimated Tax Payments.  NC CD 401S requires a copy of the federal return, Form 1120-S, to be attached.  And even if the IRS doesn’t require completing the Balance Sheet of tax Form 1120-S, NC requires it on their Form NC CD 401S.  Why?  Because it allows greater tax audit potential the simpler federal version doesn’t.

Multi State S Corporation Considerations

More often, NC based S Corporations have to file tax returns in multiple States.  We stay aware of an S Corporation’s nexus, a taxation term meaning where a business has sales.  This determines where an additional tax return needs to be filed.  Of course, your profit is only taxed once, but it can be apportioned across multiple State tax returns.

But there is diversity on how different States address S Corporation profit. You might think having additional nexus in a State that doesn’t require an S Corporation tax return (like WA, NV, SD and WY) means your corporation pays less tax. But NC just makes all profit taxable here in these cases! Ever progressive, NC allows apportionment to other States on the basis of sales. But some States use an older, more complex process involving sales, property owned and payroll.

We’re a Wilmington NC CPA firm specializing in small business tax preparation, including IRS tax Form 1120-S and NC CD 401S.  If you’d like a free initial consult, please call us at 399-2705.

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