CONTACT US
Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.
Noel Santos
Emmanuel A. Santos JD CPA, Incorporated
447 Sutter Street, Suite 714, San Francisco, CA 94108
Phone: 415-362-8921
Fax: 415-362-8924
Cell: 415-412-5839
Email: noel@eas-cpa.com
Website: www.eas-cpa.com
Your Business...Your Family...Our Concern
August 2022
August 2022 Q and A
Question:
How do I change my company's fiscal year-end?
Answer:
Transferring your business to a fiscal year from a calendar year is a significant step and should be done only if there is a strong business purpose. It will complicate tax compliance because some reporting deadlines will shift while others, like Forms 1099 and W-2, will remain on a calendar year.Changing your year-end date generally requires approval from the IRS by submitting Form 1128, so you'll want to get your tax professional involved. However, if you're looking to change your fiscal year-end strictly for a financial presentation viewpoint, remember you can always present your company financials using any period you like without changing your tax filing requirements.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.