BizSugar.com › Finance › Calendar or Fiscal? Which Tax Year is Right for your Small Business?

Did you start a business last year? No? Are you planning to start one this year? Did you know you can choose the tax year you intend to operate under? Choose well, because there are pros and cons for either method. The most common is the most obvious: the calendar year. However, businesses can also report based on a fiscal tax year and a short tax year.

Here are some tips for choosing the right period for your small business.