If a business earns most in the summer, can it choose a fiscal year that ends mid-summer?

[Boojatta]

Such a policy would likely reduce taxable income in the first year of operation, and in the final year of operation.

If a student who is employed by such a business, but who doesn't own such a business, earns most in the summer, then is the student required to use the calendar year as the fiscal year?

[Travis_0004]

1. No

Business can end their fiscal year whenever they want, individuals can not.

This is good because the IRS and tax prepares are overwhelmed Jan-April, so small business can save money by doing their taxes at other times. (since accountants may be looking for work)