I have an LLC in the USA, that is buying property. While there my USA accountant advised not to line up the USA LLC tax year with the Aust Tax year. I cant remember why he thought this (am trying to find out).
Has any other USA investor recieved that same advice – or can anyone shed any light on the issue?Cheers Wobbly
I was told to align my US tax with Australian tax, that seems logical to me. Don't understand why any investor would not want them aligned.
how do you organise aligning them.
Our property tenents moved in 1 Sept so i would love to align with aust tax year 11/12
You need to discuss this with your accountant.
It may be too late now to get an extension, not sure.
My accountant lodged an extension for my US tax in October and is working through this now. He also stated that it is difficult to try to align US/Aust tax if you do not sort it out in the first instance.
I'd align both the tax years, in my opinion. That'd make more sense and easier to organise your finances.
Although, whenever I come across hairy questions involving international tax issues, consulting your accountant is best.
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