fiscal year question

Discussion in 'Business Operations' started by mudwisr2, Oct 23, 2008.

  1. mudwisr2

    mudwisr2 LawnSite Senior Member
    Posts: 252

    Is there a benefit to having the fiscal year start at a particular time of year in this line of business.
     
  2. mudwisr2

    mudwisr2 LawnSite Senior Member
    Posts: 252

    Anyone have an opinion?
     
  3. Black Bear

    Black Bear LawnSite Member
    Posts: 45

    keep it simple and stay on a calender year. Have been in half of dozen businesses and there is no reason not to be on a calender year-end.
     
  4. brandtb1

    brandtb1 LawnSite Member
    Posts: 153

    I would use jan 1 to dec 31. That is the way taxes run, so why not match it. I could not think of a reason to have it run any other way.
     
  5. JDUtah

    JDUtah LawnSite Silver Member
    from UT
    Posts: 2,636

    I've wondered... maybe just before your season starts... that way you know how much dough you have left before hitting a rush again.. and if you have extra... you can spend it on some deductible equipment etc...
     
  6. mngrassguy

    mngrassguy LawnSite Silver Member
    Posts: 2,167

    Sounds like something my accountant would like. Anything that takes cash from my pocket into his, he's all game.
     
  7. JDUtah

    JDUtah LawnSite Silver Member
    from UT
    Posts: 2,636

    Lol, better the accountant than Uncle Sam sometimes. :usflag:
     
  8. boonehockey

    boonehockey LawnSite Member
    Posts: 108

    i would have one in your busy season and one in your slow season.
     

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