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Lee is starting a small lawn service. On his accountant's advice, Lee has formed a...

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Accounting

Lee is starting a small lawn service. On his accountant's advice, Lee has formed a corporation and made an S corporation election. The accountant has asked Lee to consider electing a fiscal year ending on the last day in February. The accountant pointed out that Lee's business will likely slow down during the winter. Also, the accountant indicated that the February year-end would permit the accountant to do Lee's accounting work after the busy season in accounting is over. What tax issues should Lee consider?

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