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

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Wilmington NC CPA comments on the NC Marriage Tax Penalty

Gary Bode, CPA: if you watch the pennies, the dollars take care of temselves. Sometimes anyway. (910) 399-2705.

NC is one of sixteen States with an income tax marriage penalty, according to a 2012 map from the Tax Foundation, which they credit to their 2012 State Business Tax Climate Index. Why write a post about it? I can’t be the only Wilmington NC CPA who gets questions about the marriage tax penalty secondary to our 2012 NC ban on gay marriage. Is the marriage tax penalty a big deal? No; see below.

So how is the NC Marriage Tax Penalty?

Of course NC doesn’t intentionally punish married folks with extra tax. But the NC marginal tax rates and income brackets do result in a discrepancy. A couple with both the husband and wife each making $70,000 of taxable NC income, pays $192.50 more than two single people each making $70,000 of NC taxable income.

Should you file as Married Filing Separately in NC?

Generally no, because you’d have to file your IRS return with the same status. And any CPA will tell you that’s almost always a bad decision for married folks.

I’m a Wilmington NC CPA with a virtual office to add convenience for our local clients. $192.50 isn’t much for a married couple making $140,000 per year. But my attitude is that if a CPA watches the pennies, often the dollars take care of themselves. There are hundreds of posts on this website. If you’re looking for a CPA, please read of few of them to gauge my abilities and philosophy. For a free phone consult please call (910) 399-2705.

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