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  #1  
Old 08-08-2012, 01:47 PM
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Fiscal Year?

What's everyone's fiscal year? I've decided Dec.31
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  #2  
Old 08-08-2012, 05:30 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 08-08-2012, 05:33 PM
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For taxes ,it's still Jan 1st to Dec31st.
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  #4  
Old 08-09-2012, 02:47 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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Lawn Treatments (fert, weeds, insects), Interior Pest Control, Termite Control, Bee & Wasp Control.
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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  #5  
Old 08-09-2012, 03:19 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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Ford F150 ex cab
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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  #6  
Old 08-09-2012, 03:25 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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  #7  
Old 08-09-2012, 04:16 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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Lawn Treatments (fert, weeds, insects), Interior Pest Control, Termite Control, Bee & Wasp Control.
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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  #8  
Old 08-09-2012, 04:19 PM
Duekster Duekster is offline
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Quote:
Originally Posted by Burnie View Post
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.
I pretty much do all my own accounting on Quickbooks now. I have used accountants in the past. After about 7 years I think I have it down pretty well.
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  #9  
Old 08-09-2012, 05:06 PM
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Quote:
Originally Posted by grandview (2006) View Post
For taxes ,it's still Jan 1st to Dec31st.
Same here.
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  #10  
Old 08-09-2012, 05:25 PM
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Quote:
Originally Posted by grandview (2006) View Post
For taxes ,it's still Jan 1st to Dec31st.
Are you saying everyone has the same fiscal year?
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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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