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  #1  
Old 08-08-2012, 02:47 PM
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Fiscal Year?

What's everyone's fiscal year? I've decided Dec.31
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Old 08-08-2012, 06:30 PM
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I decided June 30th for my business, that way I don't have to deal with both at the same time. BTW my business is a C corp.
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  #3  
Old 08-09-2012, 06:45 PM
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Quote:
Originally Posted by Burnie View Post
I decided June 30th for my business, that way I don't have to deal with both at the same time. BTW my business is a C corp.
For a basic LLC, would it be easier/beneficial to stick with jan1/dec31?
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Old 08-09-2012, 06:48 PM
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Quote:
Originally Posted by cutman2000 View Post
For a basic LLC, would it be easier/beneficial to stick with jan1/dec31?
Are you a single-member llc? If so, your fiscal year must match your personal income tax filing year (calendar).
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  #5  
Old 08-09-2012, 06:59 PM
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cutman2000 cutman2000 is offline
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Quote:
Originally Posted by tonygreek View Post
Are you a single-member llc? If so, your fiscal year must match your personal income tax filing year (calendar).
Single,yes. I was planing on doing the "calendar year"(jan1/dec31), I thought I had a choice as far as taxes(fiscal year vs calendar year). Thanks Tony
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12x6 Trailer
5x8 Trailer
(1) Zero Turn
(2) Husqvarna Packpack Blower
(2) Stihl stick edger
(1) walk behind edger
(5) weedeaters
(3) handheld blower
(4) walk behind mowers
(1) attachable aerator
(2) 22" Husqvarna hedge trimmer
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Last edited by cutman2000; 08-09-2012 at 07:05 PM.
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  #6  
Old 08-08-2012, 06:33 PM
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For taxes ,it's still Jan 1st to Dec31st.
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  #7  
Old 08-09-2012, 03:47 PM
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Quote:
Originally Posted by grandview (2006) View Post
For taxes ,it's still Jan 1st to Dec31st.
Not if you are a C Corp, my taxes are figured from July 1 to June 30, and filed by September each year. If you are an S Corp, LLC, Partnership, etc. then it is Jan 1 to Dec 31 (I think) and filed by April each year. All depends on how you set it up to start with. I also don't file a 1040 for the business, I file an 1120. Best bet is to talk to an accountant IMHO
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  #8  
Old 08-09-2012, 04:19 PM
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Quote:
Originally Posted by Burnie View Post
Not if you are a C Corp, my taxes are figured from July 1 to June 30, and filed by September each year. If you are an S Corp, LLC, Partnership, etc. then it is Jan 1 to Dec 31 (I think) and filed by April each year. All depends on how you set it up to start with. I also don't file a 1040 for the business, I file an 1120. Best bet is to talk to an accountant IMHO
I didn't know that
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12x6 Trailer
5x8 Trailer
(1) Zero Turn
(2) Husqvarna Packpack Blower
(2) Stihl stick edger
(1) walk behind edger
(5) weedeaters
(3) handheld blower
(4) walk behind mowers
(1) attachable aerator
(2) 22" Husqvarna hedge trimmer
(1) college degree
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  #9  
Old 08-09-2012, 04:25 PM
Duekster Duekster is offline
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Quote:
Originally Posted by Burnie View Post
Not if you are a C Corp, my taxes are figured from July 1 to June 30, and filed by September each year. If you are an S Corp, LLC, Partnership, etc. then it is Jan 1 to Dec 31 (I think) and filed by April each year. All depends on how you set it up to start with. I also don't file a 1040 for the business, I file an 1120. Best bet is to talk to an accountant IMHO
True enough. Problem I get into is when some companies send out a 1099 and their annual and my annual do not match.
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  #10  
Old 08-09-2012, 05:16 PM
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Quote:
Originally Posted by Duekster View Post
True enough. Problem I get into is when some companies send out a 1099 and their annual and my annual do not match.
I asked my accountant about that very thing, he said not to worry about it, it happens to a lot of companies, and the IRS knows it, so I don't worry about it. That is why I pay my accountant big bucks, so I don't have to worry about the tax stuff, I can just concentrate on my work.
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Started doing Pest Control in 1992, Started my own business in 2006.
2006 Ford F250 Super Duty, 300 gallon Split Tank, D30 Pump, Honda 5.5
2006 Chevy Silverado 1500, 100 gallon tank, Pumptec 12v Pump
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