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

My husband and I had to deal with canceled debt from a Deed in Lieu of Foreclosure on a second home with our 2012 taxes. We never had to deal with this type of tax experience and needless to say, we were fearful. Owing taxes on possible additional income was stressful. We searched for CPA’s as well as info about DILs and how Insolvency worked. When we came across Gary’s website, we were impressed. We found his website 8 months prior to tax season. We kept it as a “Favorite” as we knew we would need to contact him for assistance. When it was time to get a CPA, we called Gary. We felt relieved that we actually had someone that not only understood our concerns but was an expert in this area. He walked us through the process and all the time telling us not to worry. When our taxes were completed, you cannot imagine the relief we had when we actually were able to get a refund.

Gary is a dedicated professional and attentive to his clients. We love the virtual office as it is convenient during tax time and he’s fees were fair and affordable when you consider the depth of work accomplished on our taxes!

We’ve already started recommending Gary to others. We are so blessed and grateful for all that Gary did to assist with our taxes.

 

Patty and Tim, Fredericksburg, VA

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 discusses the Claim and Suspend Social Security Strategy for Single Folks

cpa wilmington nc

Gary Bode, CPA: if you don't already have a proactive CPA, give us a call for a free phone consult at 399-2705.

CPAs get asked lots of questions about retirement planning. Social Security is a part of that scenario. Much has been published on the “claim and suspend” Social Security strategy for married folks. But it is no-lose scenario for single people.

Claim and Suspend

This means you apply for Social Security but elect not to be paid as yet. No, this isn’t always crazy.

Full Retirement Age

While you can receive reduced Social Security benefits at age 62, the strategy below uses the full retirement age of 66. Note that the full retirement age is creeping up and will be 67 soon.

The Strategy for Single Folks

Apply for Social Security at full retirement age and then suspend payments. By doing so, your monthly benefit grows by around 8% for every year of continued suspended payments. This is just standard Social Security planning up to now. But here’s the cool part. If you run into financial problems, you can claim all those accumulated, suspended Social Security payments in one lump sum! The cons? There is no interest paid on the lump sum and you lose the delayed retirement benefits. Income taxes should be considered on the timing of the lump sum payment. Ideally, you would want little or no additional income for that tax year.

We’re a Wilmington NC CPA firm with a virtual office that serves a broad geographical base. Please read any of our hundreds of posts on this website to get a feel for what we do and how we do it. If you don’t already have a proactive CPA, give us a call at (910) 399-2705 for a free phone consult.

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