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Fiscal Year Vs Calendar Year: What’s Best for Your Business?

For tax, accounting, and even budgeting purposes, it’s important to know the difference between a fiscal year vs calendar year. A fiscal year doesn’t always align with its calendar counterpart. For example, Microsoft corporation winds up its fiscal year at the end of June.

As the name suggests, a calendar year begins on January 1 and ends on Dec 31. Amazon uses this calendar year system for tax reporting.

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