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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.” 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.
