Tax-Small Business

Our tips and tricks to get you on track

Individuals get coronavirus (COVID-19) tax and other relief

March 25, 2020

Taxpayers now have more time to file their tax returns and pay any tax owed because of the coronavirus (COVID-19) pandemic. The Treasury Department and IRS announced that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer making federal income tax payments,…

Stay Home. We’ve got your taxes covered

March 25, 2020

Our lobby is closed but we are working diligently to finish your tax returns. Liscio is a secure and efficient way to send and receive documents. We will still be working normal office hours and can be reached at 256-734-7393 if you have any questions.

Coronavirus (COVID-19): Tax relief for small businesses

March 25, 2020

Businesses across the country are being affected by the coronavirus (COVID-19). Fortunately, Congress recently passed a law that provides at least some relief. In a separate development, the IRS has issued guidance allowing taxpayers to defer any amount of federal income tax payments due on April 15, 2020, until July 15, 2020, without penalties or…

The 2019 gift tax return deadline is coming up

March 11, 2020

If you made large gifts to your children, grandchildren or others in 2019, it’s important to determine whether you’re required to file a gift tax return by April 15 (Oct. 15 if you file for an extension). Generally, you’ll need to file one if you made 2019 gifts that exceeded the $15,000-per-recipient gift tax annual…

Reasons why married couples might want to file separate tax returns

March 10, 2020

Married couples often wonder if they should file joint or separate tax returns. It depends on your individual tax situation. In general, you should use the filing status that results in the lowest tax. But keep in mind that, if you and your spouse file a joint return, each of you is “jointly and severally”…

2020 Q1 tax calendar: Key deadlines for businesses and other employers

December 19, 2019

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2020. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. January…