Calendar Year


DEFINITION of 'Calendar Year'

The one-year period that begins on January 1 and ends on December 31, based on the commonly used Gregorian calendar. For individual and corporate taxation purposes, a calendar year will generally comprise all of the year's financial information used to calculate income tax payable.

BREAKING DOWN 'Calendar Year'

Most individuals and many companies use the calendar year as their fiscal year, or the one-year period on which their payable taxes are calculated. However, some companies choose to report their taxes based on a fiscal year (e.g. starting on April 1 and ending on March 31) to better conform to seasonality patterns or other accounting concerns applicable to their businesses.

  1. Calendar Year Experience

    The underwriting result based on earned premiums and booked incurred ...
  2. Accounting Method

    The method by which income and expenses are reported for taxation ...
  3. Fiscal Year - FY

    A period that a company or government uses for accounting purposes ...
  4. Tax Year

    The period of time which is covered by a particular tax return. ...
  5. Year

    A period of time that is comprised of 12 consecutive months. ...
  6. Accounting Period

    The time span in which certain financial events took place. The ...
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