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Fiscal Year?

Discussion in 'Starting a Lawn Care Business' started by cutman2000, Aug 8, 2012.

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  1. cutman2000

    cutman2000 LawnSite Member
    Posts: 202

    What's everyone's fiscal year? I've decided Dec.31
     
  2. Burnie

    Burnie LawnSite Member
    Posts: 82

    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.
     
  3. grandview (2006)

    grandview (2006) LawnSite Gold Member
    Posts: 3,466

    For taxes ,it's still Jan 1st to Dec31st.
     
  4. Burnie

    Burnie LawnSite Member
    Posts: 82

    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
     
  5. cutman2000

    cutman2000 LawnSite Member
    Posts: 202

    I didn't know that
     
  6. Duekster

    Duekster LawnSite Fanatic
    from DFW, TX
    Posts: 7,961

    True enough. Problem I get into is when some companies send out a 1099 and their annual and my annual do not match.
     
  7. Burnie

    Burnie LawnSite Member
    Posts: 82

    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.
     
  8. Duekster

    Duekster LawnSite Fanatic
    from DFW, TX
    Posts: 7,961

    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.
     
  9. Chilehead

    Chilehead LawnSite Bronze Member
    Male, from Stockbridge, GA
    Posts: 1,891

    Same here.
     
  10. cutman2000

    cutman2000 LawnSite Member
    Posts: 202

    Are you saying everyone has the same fiscal year?
     

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