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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16547
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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What the difference between ending an LLCs fiscal year on September

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What the difference between ending an LLCs fiscal year on September 31 vs. December 31 .vs any other date?
Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.

Thank you for your question - there's really not a difference when you decide to end your fiscal year. The difference will be the due date of your tax return. Tax returns are due on the 15th day of the third month after the end of your tax year. For December 31 filers, that's March 15th. For September 30 filers, your return will be due December 15th.

So, there's not a difference, it will just adjust your deadlines. Most people just stick to a calendar year for sake of simplicity.

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