On: Remind HN: Raise your rates

[swores]

January 1st is an obvious start to the calendar year, not the fiscal year.

In the UK the fiscal year begins in early April, and while different countries do have different starts to the fiscal year, few of them (not, for example, UK or USA) start on January 1st.

[gte910h → swores]

For many types of companies in the US, you have to basically convince the government to let you have one other than jan1 - dec 31.

[swores → gte910h]

Not according to Wikipedia:

"The U.S. government's fiscal year begins on October 1 of the previous calendar year and ends on September 30"

Or About.com:

"The Federal Fiscal Year runs from October 1 of the prior year through September 30 of the next year."

[gte910h → swores]

That's the US government's fiscal year. It's also one of the biggest reasons you can convince them to let them use that fiscal year (if you do a lot of government business, like a military contractor).

[smountcastle → swores]

That's the government's fiscal year, not your company's fiscal year.

[swores → smountcastle]

My bad: "The tax year for a business is governed by the fiscal year it chooses."

[barrkel → swores]

If I could convince the expenses people in my company of that, it would get them off my back until after Christmas.

[rprasad → swores]

January 1st is the default fiscal method for all taxpayers in the US. Business entities can choose to use their fiscal year as their tax year when they incorporate/charter. Individuals can also choose a non-calendar year tax year, but only before they file their first tax return.

All US taxpayers can change their tax year by petitioning the IRS for a change of taxable year; this is usually granted without hassle for businesses (i.e, C-Corporations), but almost never for individuals.

[swores → rprasad]

Cheers for the clarification, clearly my knowledge is pretty UK biased :)