The Buffaloe Group

We are accepting NEW CLIENTS! Business and Individuals As always we appreciate your referrals. Call 678-971-0090 for appointment or drop off at your convenienceWe are accepting NEW CLIENTS! Business and Individuals As always we appreciate your referrals. Call 678-971-0090 for appointment or drop off at your convenience

Great reminders for our business owners and friends.

If you're thinking of starting a new business or already have one in the works, we applaud you! It's a worthwhile investment. We encourage you to start thinking about taxes in your earliest planning stages because it will make things easier for you in the long-term. Here's a good place to start understanding and researching the basics you'll want (need) to know.

Our thoughts and hearts are with all Carolina residents dealing with the aftermath of Hurricane Florence today, and in the coming weeks and months. Our hopes are that the rains will end, and the flooding will subside, so that the actual recovery process can begin. (And know that as it pertains to approaching tax deadlines, the IRS almost always issues extensions for victims of natural disaster. So let that be the last of your worries!)

For those of you with corporate filings on extension due on Monday, we are busy wrapping up the details for you. One final reminder here to send us any outstanding docs that are still needed. You know who you are...

There's a lot of mistrust out there these days. Us included sometimes. We get it. That's why we strive to provide no-pressure, relevant, well-researched tax advice for regular people. We like to save money just like you. We get it, and that's why we take this approach. There are still ways to save money on your taxes THIS YEAR, and we'd like nothing better than to share them with you. Give us a call.

The IRS only has 10 years to collect your unpaid tax debt. After 10 years expires, the IRS must, by law, put a credit on your account for the amount that cannot be collected, and move your account balance to zero. The time to collect begins when the IRS first puts a balance due on its books, and ends 10 years later. The end is known as the "IRS collection statute expiration date". By law, owing the IRS is not forever.

Now, we're busy ... but are any of us really *this* busy? ;)

Our tax system is not fair. The Elon Musks, Warren Buffetts, Mark Zuckerbergs, etc. operate under a vastly different system than most "regular" taxpayers. This is NOT because they are politically-connected (though they are), but because of the people they have who do wonders on their behalf. The sooner you make the decision to JOIN their ranks, the sooner you will pay less in taxes.

Q&A Friday: What questions do you have for me today? Business entities, offers in compromise, IRS penalties, the new tax law ... it's all fair game!

Q: When will the IRS started levying your wages to pay off your tax debt? A: It's one of the most common problems that drives clients to our office. An IRS wage levy is a situation that can be solved. The IRS mostly just wants effective communication, and an agreed-upon plan for compliance. Levies are issued (generally) when they haven't heard anything from you about payment. We will fix that problem (at the least!) for you.

Possession of numbers and reports is not the goal. Being able to interpret them for the protection and benefit of your business is where we can help.

The IRS never forgets. They just keep adding penalties to what you owe each day until they find you, or your money, or your income source. Is there a way out? Yes, there are ways to end your IRS problems, but *you* must decide to end them, no one else can decide for you. When you decide that enough is enough, there are options available to you. We’re here to help.