Corp Fiscal Years
Posted by taxguru on November 20, 2008
Q:
Subject: C Corp fiscal tax year.
Hello Kerry,
I was interviewing an account for my taxes and he was telling me that the only choice for a C Corp fiscal year is either Oct. 1st or Jan. 1st. I could not find the info on the IRS web site and I knew you would know off the top of your head. Thanks for your time. I was wanting the July 1st to June 30th like you mention in some of your articles. Thanks for your time.
A:
A C corp can have a fiscal year ending at the end of any calendar month. I have some more info on fiscal years on my main website.
It looks like you need to find yourself a professional tax advisor who is a little more knowledgeable about such basic matters.
Consider yourself lucky that this person revealed his ignorance so early in your potential relationship.
Good luck.
Kerry Kerstetter
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