December 4th, 2014 → 3:47 pm @ Lance R. Drury // No Comments
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.
St Genevieve, MO, December 4, 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 “A Guide To Taxes That Can and Cannot Be Eliminated in Chapter 7 Bankruptcy.” Sometimes the only way out of mountainous debt is bankruptcy.
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December 3rd, 2014 → 4:02 pm @ Lance R. Drury // No Comments
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.
Determinations That Allow Tax Discharge.
The Law allows certain tax debts to be discharged in Chapter 7 Bankruptcy.
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November 12th, 2014 → 5:16 pm @ Lance R. Drury // No Comments
Tax resolution attorney Lance Drury, founder of the Law Firm of Lance R. Drury, and best selling author of “Successonomics” issues a warning to both business owners and individuals to be more cautious about making deposits to their accounts that would make them IRS targets.
St Genevieve, MO, November 12, 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 “Beware: If You Make a Series of Deposits Totaling $10K, The IRS Could Seize Your Accounts.” Being a law-abiding businessperson or wage earner is no guarantee of safety from having assets seized by the IRS.
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November 11th, 2014 → 2:06 pm @ Lance R. Drury // No Comments
Law abiding, small business owners and ordinary citizens must be increasingly cautious to avoid getting into trouble with the IRS. For the last few years, the IRS has been implementing a process referred to as “civil asset forfeiture” to seize bank accounts and other assets. Originally created as a way to track the cash of criminals such as drug traffickers and terrorists, the IRS has turned their sights to average business owners even though they have no criminal records, nor have they committed any serious crimes.
Once the IRS seizes an account, they can take the money without filing a criminal complaint.
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November 10th, 2014 → 4:43 pm @ Lance R. Drury // No Comments
Tax resolution attorney Lance Drury, founder of the Law Firm of Lance R. Drury, and best selling author of “Successonomics” tells employers that as trustees of the U.S. government they are obligated to send in payroll taxes or suffer the consequences.
St Genevieve, MO, November 10, 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 “Using Withheld Payroll Taxes For Other Expenses is Dangerous Business.” Once you become an employer you also become a trustee of the U.S.
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November 6th, 2014 → 3:33 pm @ Lance R. Drury // No Comments
Unfortunately many employers fall into this very dangerous trap during financially stressful times. Be forewarned though that any other means of meeting financial obligations is preferable to using payroll taxes.
Any individual within a company who distributes payroll checks to anyone considered an employee is automatically considered a trustee for the U.S. government. A percentage of the payroll taxes that are withheld are called “trust fund taxes” and belong to the government.
If payroll taxes are misused to pay other expenses instead of making payment to the IRS, they will assess what is called a trust fund civil penalty also known as a trust fund recovery penalty (TFRP).
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September 22nd, 2014 → 12:49 pm @ Lance R. Drury // No Comments
St Genevieve, MO, September 22, 2014:Tax resolution attorney Lance Drury, founder of the Law Firm of Lance R. Drury, and best selling author of “Successonomics” posted a new article on the LANCE DRURY LAW website entitled “Employee or Independent Contractor? One Mistake Could Draw Six Government Agencies Gunning for Your Business.” While businesses strive to be in the spotlight, they do not want to be under the glaring lights of six government agencies.
According to Lance Drury, misclassifying a regular employee as an independent contractor is a sure way to get lots of unwanted attention. Drury advises business owners to “Remember that it is in the government’s best interest to have workers classified as employees.
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September 19th, 2014 → 2:24 pm @ Lance R. Drury // No Comments
Most business owners would be thrilled if they could classify all workers as independent contractors. It would make their bottom line look much better. The savings in payroll taxes and benefits can be very tempting. No one is immune to trying to get away with misclassifying workers. Both, small businesses and large corporations, attempt to reap the rewards.
If you are looking into the distinctions between classifying workers as employees or independent contractors, proceed with caution. An incorrect classification could result in having as many as six government agencies coming after your business for back taxes, back salary, fines and benefits.
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September 18th, 2014 → 3:09 pm @ Lance R. Drury // No Comments
St Genevieve, MO, September 18, 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 “Are You Inviting IRS Troubles by Misclassifying Employees as Independent Contractors?” Businesses are always looking for tax loopholes and ways to legally avoid paying taxes. Classifying employees as independent contractors is tempting and may work temporarily, but the IRS is always looking for employers trying to evade taxes this way.
Lance Drury says, “The IRS does not like to lose money. So when they see workers designated as independent contractors, it is like an open invitation to initiate an audit.” He continues advising employers, “Be very careful before deciding who is and who is not an independent contractor.
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September 17th, 2014 → 3:38 pm @ Lance R. Drury // No Comments
Don’t do it. This happens to be one of the most common mistakes many business owners make today. In an attempt to get away with not paying payroll taxes they intentionally misclassify certain people who do work for their businesses as independent contractors. Be very careful before deciding who is and who is not an independent contractor. It could cost you tens of thousands of dollars or more in heavy penalties, fines and back taxes owed to the IRS. The IRS does not like to lose money. So when they see independent contractors, it is like an open invitation to initiate an audit.
