Lance Drury Law
Ste. Genevieve 573-883-3056
Columbia 573-886-8900
St. Louis 314-200-0003

December 2014 Archives

Tax Resolution Expert, Attorney Lance Drury Shares New Tax Breaks for 2014 to Motivate Early Preparation.

Tax resolution attorney Lance Drury, founder of the Law Firm of Lance R. Drury, and best selling author of "Successonomics" small businesses, home-based entrepreneurs, and companies offering health care flexible spending accounts get a little tax relief. St Genevieve, MO, December 29, 2014: Tax resolution attorney Lance Drury, founder of the Law Firm of Lance R. Drury, and best selling author of "Successonomics" posted a new blog on the LANCE DRURY LAW website entitled "New Tax Breaks For Small and Home Based Businesses." It may not be the year-end celebrating causing that headache, but the prospect of the looming tax season. As Drury writes in his latest blog, "With the closing of the year, it's time to start thinking about preparing to file your taxes. Never a pleasant topic, but it is one that must be broached. The sooner you begin preparing, the sooner you can file and the sooner it will be over. " Drury turns to an online article at Bank rate for some of the new rules that apply to small business and home-based businesses. Drury quotes the article which says, "Under the new rule, you can bypass detailed expense records and simply deduct $5 for every square foot of home office space used, up to a maximum of 300 square feet, or $1,500. The simplified expense is recorded on Schedule C rather than Form 8829, and allows you to separately deduct mortgage interest and real estate taxes on Schedule A." (http://www.bankrate.com/finance/taxes/key-tax-changes-for-2014-and-beyond.aspx#ixzz3L8ByK5lz ) The article continues, "Employers now can allow employees to carry over up to $500 of any unused balance from the previous year, for use at any time during the next FSA accounting period." Drury points out that, "These are just a few of the new tax breaks. Hopefully, some of them are motivating enough to get you started early. And always remember, you must file your taxes even if you owe the IRS money."   The entire blog can be found here.   About Lance Drury Tax Attorney Lance Drury, founder of the Law Firm of Lance R. Drury, has been practicing law since 1984 and began representing individuals and businesses in disputes with the Internal Revenue Service in 2006.  With offices located in Ste. Genevieve and Columbia, Missouri, Drury has positioned himself as a leading attorney in the state for IRS tax resolution issues.  He is able to evaluate the unique situation of clients and provide them with honest answers and a specific plan to best resolve their tax problems About The Lance Drury Law Firm Since 2006, the Law Firm of Lance R. Drury has been representing individuals and businesses in disputes with the Internal Revenue Service and State of Missouri Tax Commission. With offices located in Ste. Genevieve and Columbia, Missouri, we're proud to be your local choice for Missouri tax services.   ###

New Tax Breaks For Small and Home Based Businesses

With the closing of the year, it’s time to start thinking about preparing to file your taxes. Never a pleasant topic, but it is one that must be broached. The sooner you begin preparing, the sooner you can file and the sooner it will be over. To make it a little easier on the indigestion, there are a few new tax breaks that pertain to small businesses, home based entrepreneurs and employers offering health care flexible spending accounts.First, according to “Key tax changes for 2014 and beyond” on Bankrate, referring to new tax rules favoring small and home based businesses, the article states, ““Under the new rule, you can bypass detailed expense records and simply deduct $5 for every square foot of home office space used, up to a maximum of 300 square feet, or $1,500. The simplified expense is recorded on Schedule C rather than Form 8829, and allows you to separately deduct mortgage interest and real estate taxes on Schedule A.” (http://www.bankrate.com/finance/taxes/key-tax-changes-for-2014-and-beyond.aspx#ixzz3L8ByK5lz )If your company offers employees health care flexible spending accounts, there’s more good news. According to the same Bankrate article, “Employers now can allow employees to carry over up to $500 of any unused balance from the previous year, for use at any time during the next FSA accounting period.”In addition, if you continue to run your own businesses after qualifying for Medicare you can deduct the premiums you pay for Medicare Part B and Medicare Part D, plus the cost of supplemental Medicare (medigap) policies or the cost of a Medicare Advantage plan.These are just a few of the new tax breaks. Hopefully some of them are motivating enough to get you started early. And always remember, you must file your taxes even if you owe the IRS money. 

Tax Resolution Expert, Attorney Lance Drury Suggests Taking Action to Get Tax Lien Withdrawn

Tax resolution attorney Lance Drury, founder of the Law Firm of Lance R. Drury, and best selling author of “Successonomics” encourages anyone with a Federal Tax Lien filed against them by the IRS to seek the guidance of a reputable attorney.

How to Make an IRS Tax Lien Disappear as Thought It Was Never There

You could have an IRS tax lien attached to your business or personal assets and not even know it. Why?  Because the IRS notifies taxpayers after they’ve filed the lien. Once the IRS has filed the lien with the county you live in, then they will send you a Notice of Federal Tax Lien. The lien then becomes effective ten days after the IRS issues a written demand for payment of outstanding taxes.

Tax Resolution Expert, Attorney Lance Drury Tells Businesses How Tax Debt Is Handled in Business Bankruptcy

Tax resolution attorney Lance Drury, founder of the Law Firm of Lance R. Drury, and best selling author of “Successonomics” elaborates on the different types of business bankruptcies and the tax implications.

Taxes and Business Bankruptcy

Complex tax codes make filing for bankruptcy something no business should ever attempt to do without the services of a very seasoned tax resolution attorney. From determining which type of bankruptcy to file, to understanding the tax implications are just the beginning of a long and complicated process.

Tax Resolution Expert, Attorney Lance Drury Highlights Taxes That May Be Discharged in Bankruptcy

Tax resolution attorney Lance Drury, founder of the Law Firm of Lance R. Drury, and best selling author of “Successonomics” provides an overview of taxes that can be discharged under Chapter 7 Bankruptcy and the specific requirements that must be met.

A Guide To Taxes That Can and Cannot Be Eliminated in Chapter 7 Bankruptcy

When bankruptcy is the only route to take in the face of overwhelming debt, it is important to be aware that some tax debt may be discharged while other taxes are not eligible for discharge. Most tax debt is eliminated under Chapter 7 Bankruptcy while Chapter 13 Bankruptcy requires a payback plan. Use this review of taxes that can and cannot be eliminated as a guide, and always retain the most experienced tax resolution attorney you can find to help you navigate the sea of paperwork and filing requirements.

As Seen On

NBC ABC Fox News Channel USA Today BIO - The Biography Channel CBS
NBC ABC Fox News Channel USA Today BIO - The Biography Channel CBS

Schedule a No Obligation Tax Consultation

Contact us today and get relief from your tax burden. You can also receive a FREE chapter from the best-selling book, Protect and Defend, just by requesting it from the form below.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

The Law Firm of Lance R. Drury
150 Merchant Street
Ste. Genevieve, MO 63670

Phone: 314-200-0003
Fax: 573-883-3095
Ste. Genevieve Law Office Map

St. Louis Office
3636 South Geyer Road, Suite 100
St. Louis, MO 63127

Phone: 314-200-0003
Fax: 314-238-7201

Columbia Office
3610 Buttonwood Drive, Suite 200
Columbia, MO 65201

Phone: 573-886-8900
Fax: 573-886-8901

Facebook Twitter You Tube Linked In Rss Feed
Review Us

Back to Top

"The choice of a lawyer is an important decision and should not be based solely upon advertisements."

- Lance

Privacy Policy | Business Development Solutions by FindLaw, a Thomson Reuters business.