We Prepare Tax Returns!

We prepare most type of tax returns:

Individual. 

S Corporation.

C Corporation.

Partnership.

Payroll.

Amended.

Pay Your CPA

Enter $ Below
Other Amount:
Your Email Address:

Form 1065 CPA comments on the IRS Form 1065 instructions

Partnerships are great for creating the value of each Partner but can give a Form 1065 CPA headaches. Need a free consult with a Form 1065 CPA? Call (910) 399-2705.

Form 1065 CPAs run into a vast array of issues with Partnerships. Every two years I buy a Master’s level tax course book. I read . . . → Read More: Form 1065 CPA comments on the IRS Form 1065 instructions

Limited Liability Company CPA discusses IRS Taxation Options | LLC Tax

Gary Bode, CPA: There’s a reason why LLCs are so popular. For a free initial phone consult, please call 399-2705.

Limited Liability Company CPAs see the LLC touted as the business entity of choice. But the choice of business for entity depends on multiple factors. Note that LLC is a unique type of business . . . → Read More: Limited Liability Company CPA discusses IRS Taxation Options | LLC Tax

IRS Form 1065 CPA explains Partnership Distributions: a Form 1065 tax preparation example

Gary Bode, CPA: Property distributions to Partners can produce unintended IRS Form 1065 tax consequences. (910) 399-2705.

Form 1065 CPAs urge proactive planning of property distributions to Partners. Why? To avoid unintended tax consequences. Hi, I’m Gary Bode, a Form 1065 CPA with a virtual office to serve your Partnership wherever it is.

“Restructuring . . . → Read More: IRS Form 1065 CPA explains Partnership Distributions: a Form 1065 tax preparation example

LLC CPA gives an example of Partnership Distributions | Form 1065

LLCs can elect how they’re taxed. In this post, the LLC chooses to be taxed as a Partnership and files Form 1065 with the IRS. The following example illustrates a common trap for LLC Members; the IRS treats a reduction in a Member’s share of LLC debt as a cash distribution.

The following example is . . . → Read More: LLC CPA gives an example of Partnership Distributions | Form 1065

LLC CPA discusses Disguised Sales in Partnerships | Form 1065

In a Partnership LLC, Members pool their assets to increase profit. The IRS encourages this. So, a member doesn’t generally have gain or loss when contributing an asset to the LLC. Conversely, LLC distributions to a Member usually have no immediate tax consequences either. Why? Distributions generally return the partner’s capital or guaranteed payments. Note . . . → Read More: LLC CPA discusses Disguised Sales in Partnerships | Form 1065

LLC CPA discusses Partnership Mergers | Form 1065

Gary Bode, CPA: structure your LLC merger correctly and it's non-taxable. (910) 399-2705.

Two types of Partnership mergers exist, nicknamed “assets over” and “assets up.” The IRS default is the assets over type, so I’ll define that here with a simple example. I think most LLC CPAs deal with this issue.

Assets Over type . . . → Read More: LLC CPA discusses Partnership Mergers | Form 1065

LLC CPA discusses Limited Partner Self-Employment Tax | Form 1065

Gary Bode, CPA: all IRS LLC issues aren't definitive! For a free phone consult, call 399-2705.

Self-employment tax issues still exist for LLC Members because the IRS isn’t definitive about the subject – at least in some circumstances. Check with your LLC CPA, as this post offers only general guidance on a non-definitive subject.

. . . → Read More: LLC CPA discusses Limited Partner Self-Employment Tax | Form 1065

Small Business Tax CPA discusses Amending and Superseding Form 1120-S for LLCs

Gary Bode, CPA: we offer a free initial phone consult on any small business tax issue. Just call 399-2705.

Some LLCs elect S Corporation taxation and file Form 1120-S with the IRS. A business tax CPA sometimes amends or supersedes a LLC’s tax return for various reasons; carry back allowance, discovery of previously un-reported . . . → Read More: Small Business Tax CPA discusses Amending and Superseding Form 1120-S for LLCs

LLC CPA Explains How to Amend Form 1065 for Partnerships | Form 8082

Gary Bode, CPA: for a free initial phone consult on any LLC issue please call 399-2705.

LLC CPAs amend Form 1065 for a wide range of reasons. When Form 1065 must be amended, your LLC CPA should nail down the return and document it well. The IRS probably scrutinizes amended returns closely.

How to . . . → Read More: LLC CPA Explains How to Amend Form 1065 for Partnerships | Form 8082

LLC CPA discusses LLC Advantages | CPA Wilmington NC

Gary Bode, CPA: LLCs have plenty of advantages, but the decision should be carefully considered. For a free initial consult, please call 399-2705.

I’ll present the common decision issues I see as a LLC CPA. LLCs are State created legal entities, not an IRS designation. Your LLC has several options on how it gets . . . → Read More: LLC CPA discusses LLC Advantages | CPA Wilmington NC