2006-12-18 13:04:19 · 6 answers · asked by dngrcr 1 in Business & Finance ➔ Small Business
No, they usually go by when they pay taxes as the end/start of the year.
2006-12-18 13:07:02 · answer #1 · answered by marklemoore 6 · 0⤊ 3⤋
Eveyone's different. Some base their year on busy or slow periods of sales, some use a calendar year. Discuss the options with your accountant and see what's best for your situation.
2006-12-18 21:08:42 · answer #2 · answered by crazydave 7 · 1⤊ 0⤋
Most end their accounting year on Dec 31st or April, depending on their busy season (so says my accountant)
I use the end of December, just seems like a natural fit.
2006-12-18 21:07:12 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Unless you are a seasonal comapny ie snow plow, landscaping, there is not much of an advantage to having a year end other then december 31st calendar year end.
2006-12-21 16:44:54 · answer #4 · answered by William B 2 · 0⤊ 0⤋
Answering only for myself, I base mine on the calendar year, in accordance with my payment schedule to the IRS -- quarterly payments.
2006-12-18 21:13:36 · answer #5 · answered by Doc 7 · 0⤊ 0⤋
Some do, and some use the fiscal year method.
2006-12-18 21:06:57 · answer #6 · answered by WC 7 · 0⤊ 0⤋