We Prepare Tax Returns!

We prepare most type of tax returns:

Individual.

S Corporation.

C Corporation.

Partnership.

Payroll.

Amended.

Gary Bode CPA

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 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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IRS Tax Form 1099-A CPA accountant discusses rental property foreclosures | Form 1099-A instructions | Landlord tax issues

By Gary Bode CPA, on October 27th, 2014%

Lots of Form 1099-A misconceptions exist. I’ve tried to offer tips that should be in the taxpayer’s Form 1099-A instructions. For a free rental property consult call (910) 399-2705.

I’m a Form 1099-A CPA tax accountant because two of my specialties are rental real estate and cancelled debt. Form 1099-A doesn’t report cancelled debt, . . . → Read More: IRS Tax Form 1099-A CPA accountant discusses rental property foreclosures | Form 1099-A instructions | Landlord tax issues

Leave a comment   Rental Property   , ,  

Schedule E CPA offers tips on rental property foreclosures | rental property cancelled debt | Insolvency and Discharge of qualified real property business indebtedness exclusions on Form 982 |IRS Form 1099-A and Form 1099-C

By Gary Bode CPA, on September 20th, 2014%

The tax reporting rules for rental property cancelled debt sometimes confuses landlords. Preparing Schedule E isn’t enough when you have a rental property foreclosure. I offer a free consult on rental property issues, including Form 982. (910) 399-2705.

Schedule E CPAs work with rental property cancelled debt and Form 982 daily. And, of course, . . . → Read More: Schedule E CPA offers tips on rental property foreclosures | rental property cancelled debt | Insolvency and Discharge of qualified real property business indebtedness exclusions on Form 982 |IRS Form 1099-A and Form 1099-C

Leave a comment   Cancelled Debt, Depreciation, Insolvency, Real Estate, Rental Property   , , , , ,  

Rental Real Estate CPA discusses previously disallowed rental losses for active participation upon rental property short sale, foreclosure or abandonment | IRS Schedule E and Publication 527

By Gary Bode CPA, on June 14th, 2014%

The most common error I see when amending a Schedule E landlord’s tax return is not deducting previously disallowed rental losses when the rental property gets sold. I offer a free phone consult on any rental real estate tax issues. (910) 399-2705.

In 2014, rental real estate CPAs still see plenty of rental property . . . → Read More: Rental Real Estate CPA discusses previously disallowed rental losses for active participation upon rental property short sale, foreclosure or abandonment | IRS Schedule E and Publication 527

Leave a comment   Real Estate, Rental Property   , , , , , ,  

Form 1099-A CPA discusses an amazing Rental Real Estate Cancelled Debt case | Form 1099-A, Acquisition or Abandonment of Secured Property, leads to $250,000 NOL

By Gary Bode CPA, on January 25th, 2014%

Here’s a bad example of IRS Form 982 tax preparation involving Form 1099-A

Form 1099-A CPAs sometimes end up amending past cancelled debt tax returns. I hear lots of confusion about Form 1099-A, Acquisition or Abandonment of Secured Property, through free consults, new Clients, website comments and other tax preparers.

I’m not implying I . . . → Read More: Form 1099-A CPA discusses an amazing Rental Real Estate Cancelled Debt case | Form 1099-A, Acquisition or Abandonment of Secured Property, leads to $250,000 NOL

2 comments   Cancelled Debt, Insolvency, IRS, Rental Property   , , ,  

Cancellation of Debt CPA discusses the Insolvency and Discharge of Qualified Real Property Business Indebtedness exclusion of Form 982 | Rental Real Estate Cancelled Debt

By Gary Bode CPA, on January 12th, 2014%

I’m sorry you lost your rental real estate property. I’ll try to cover how to plan for cancelled debt on Form 1099-C and the gain or loss on Form 4797. For a free rental property cancelled debt consult call (910) 399-2705.

I’ll cover cancelled rental real estate debt using the insolvency and discharge . . . → Read More: Cancellation of Debt CPA discusses the Insolvency and Discharge of Qualified Real Property Business Indebtedness exclusion of Form 982 | Rental Real Estate Cancelled Debt

3 comments   Cancelled Debt, Rental Property   , , , ,  

Cancelled Debt Tax Reporting for Student Loans | Form 982 CPA explains how to handle IRS Form 1099-C, Cancellation of Debt

By Gary Bode CPA, on January 11th, 2014%

Cancelled debt tax reporting is tricky. Plus there’s usually a large potential tax liability riding on proper preparation of Form 982. For a free cancelled debt consult call (910) 399-2705. The virtual office means distance or location isn’t a factor for engaging me.

Cancelled debt tax reporting for student loans generally uses the Insolvency . . . → Read More: Cancelled Debt Tax Reporting for Student Loans | Form 982 CPA explains how to handle IRS Form 1099-C, Cancellation of Debt

8 comments   Cancelled Debt   , ,  

Real Estate CPA discusses IRS Form 1099-A, Acquisition or Abandonment of Secured Property, for Rental Property | landlord taxation issues | Form 4797, Sales of Business Property

By Gary Bode CPA, on January 8th, 2014%

Form 1099-A triggers an IRS reportable sale of your rental property. Gains or losses can be six figures. Understand Form 4797. If you like what you read, call for a free rental property consult. (910) 399-2705.

Real Estate CPAs expect to see plenty of 2013 Form 1099-A(s), Acquisition or Abandonment of Secured Property, for . . . → Read More: Real Estate CPA discusses IRS Form 1099-A, Acquisition or Abandonment of Secured Property, for Rental Property | landlord taxation issues | Form 4797, Sales of Business Property

Leave a comment   Cancelled Debt, Rental Property   ,  

IRS Form 1099-C CPA discusses the Qualified Real Property Business Debt exclusion of IRS Form 982, for Rental Property Short Sales and Foreclosures

By Gary Bode CPA, on December 24th, 2013%

Start with the Qualified Real Property exclusion on Form 982 to exclude cancelled debt on Form 1099-C from becoming taxable income. (910) 399-2705.

Hi, I’m Gary Bode, an IRS Form 1099-C CPA. We can serve you through our virtual off regardless of your location. If you need a cancelled debt CPA and like what . . . → Read More: IRS Form 1099-C CPA discusses the Qualified Real Property Business Debt exclusion of IRS Form 982, for Rental Property Short Sales and Foreclosures

Leave a comment   Cancelled Debt   , , , , ,  

IRS Form 982 CPA explains Short Sales and Foreclosure Cancelled Debt | Reduction of Tax Attributes | IRS Form 1099-C Cancellation of Debt

By Gary Bode CPA, on November 20th, 2013%

If you get uncomfortable while preparing Form 982 for cancelled debt, consider calling us for help at (910) 399-2705. Our virtual office can serve you wherever you live.

IRS Form 982 CPAs still expect to see a lot of Cancelled Debt from Form 1099-C, Cancellation of Debt, in 2014. Why? Unfortunately, there were still . . . → Read More: IRS Form 982 CPA explains Short Sales and Foreclosure Cancelled Debt | Reduction of Tax Attributes | IRS Form 1099-C Cancellation of Debt

One comment   Amended: 1040X, Audit, Cancelled Debt   , , , ,  

Insolvency CPA discusses Qualified Principal Residence Indebtedness on Form 982, Reduction of Tax Attributes | Form 1099-C, Cancellation of Debt and Form 1099-A, Acquisition or Abandonment of Secured Property

By Gary Bode CPA, on October 22nd, 2013%

Losing your home is tough, but paying taxes on forgiven or cancelled debt is devastating. Use the insolvency and/or qualified principal residence indebtedness provision of Form 982 to avoid this double whammy. Our virtual office means we can help you regardless of where you live. We offer a free consult on cancelled debt. (910) . . . → Read More: Insolvency CPA discusses Qualified Principal Residence Indebtedness on Form 982, Reduction of Tax Attributes | Form 1099-C, Cancellation of Debt and Form 1099-A, Acquisition or Abandonment of Secured Property

2 comments   Cancelled Debt   , , ,  
 
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