Fiscal Year?

[cutman2000]

Originally Posted by Burnie

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?

[tonygreek]

Originally Posted by cutman2000

Are you saying everyone has the same fiscal year?

No. http://en.wikipedia.org/wiki/Fiscal_year

[tonygreek]

Originally Posted by cutman2000

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).

[cutman2000]

Originally Posted by tonygreek

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