{"id":3333,"date":"2024-11-02T14:11:43","date_gmt":"2024-11-02T19:11:43","guid":{"rendered":"https:\/\/www.connerash.com\/blog\/?p=3333"},"modified":"2024-11-04T16:07:37","modified_gmt":"2024-11-04T22:07:37","slug":"november-2024-client-profile","status":"publish","type":"post","link":"https:\/\/www.connerash.com\/blog\/november-2024-client-profile\/","title":{"rendered":"November 2024 Client Profile"},"content":{"rendered":"
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William’s business is tourist-dependent and earns most of its money during the warmer months. He has always filed his tax return based on the calendar year but would like to change it to a fiscal year ending in October. What does he need to do?<\/p>\n\n\n\n

First, William should make sure he is eligible. The IRS says if you file your first return using the calendar tax year and later become a sole proprietor, a partner in a partnership, or a shareholder in an S corporation, you must continue to use the calendar year unless you get IRS approval to change it or meet one of the exceptions listed in its Form 1128 instructions.<\/p>\n\n\n\n

William may qualify for automatic IRS approval to change his tax year. A tax professional can help determine whether changing the tax year is the right course of action.<\/p>\n\n\n\n

Client Profile is based on a hypothetical situation. The solutions discussed may or may not be appropriate for you.<\/sub><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

William’s business is tourist-dependent and earns most of its money during the warmer months. He has always filed his tax return based on the calendar year but would like to change it to a fiscal year ending in October. What does he need to do? First, William should make sure he is eligible. The IRS … <\/p>\n

Continue reading “November 2024 Client Profile”<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,257],"tags":[],"class_list":["post-3333","post","type-post","status-publish","format-standard","hentry","category-newletters","category-year-end"],"yoast_head":"\nNovember 2024 Client Profile - Conner Ash<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.connerash.com\/blog\/november-2024-client-profile\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"November 2024 Client Profile - Conner Ash\" \/>\n<meta property=\"og:description\" content=\"William’s business is tourist-dependent and earns most of its money during the warmer months. 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