Clear the confusion between Calendar Year and Fiscal Year. Learn their key differences in purpose, usage, and time period.

An accounting year, or tax year, is the time frame for keeping together records of expenses and income -- information you enter into your annual tax return to calculate taxable income. Individuals ...

Ask someone to define a year and they’ll probably say January 1 to December 31. That’s correct of course—but it’s not the only correct definition. January to December represents a calendar year: the ...