TY Recruiting

This year instead of attending the CSU Chico and Saint Mary's College Career Fairs, we decided to do things a little differently. So we participated in the Meet the Firms which is an event specifically tailored to accounting students. Since there were only a handful of firms present at these events we were better able to engage one on one with potential candidates. The turnout of accounting students at both colleges was great. Our goal is to find an Entry Level Staff Accountant and a possible summer Intern for May 2010. Many students were eager to learn more about our firm and some had already heard of us or had visited our website. Our next step will be On-Campus Interviews in October where we hope to find the next great addition to the TY team.

2009 Best Accounting Firms to Work For

ThomasYork was recently named as one of the 2009 Best Accounting Firms to Work for. The annual list of “Best Accounting Firms” was created by Accounting Today and Best Companies Group. This survey and award program was designed to identify, recognize and honor the best places of employment in the accounting industry, benefiting the nation's economy, its workforce and businesses. The Best Accounting Firms to Work for list is made up of a total of 100 companies, split into three groups: 20 small-sized companies (15-24 employees), 65 medium-sized companies (25-249 employees) 15 large-sized companies (more than 250 employees). ThomasYork has been named one of the Best Accounting Firms to Work for in the small category. Companies from across the country entered the two-part survey process to determine the Best Accounting Firms to Work for. The first part consisted of evaluating each nominated company's workplace policies, practices, philosophy, systems and demographics. The second part consisted of an employee survey to measure the employee experience. The combined scores determined the top companies and the final ranking. Best Companies Group managed the overall registration, survey and analysis process and determined the final rankings. Our ranking will be unveiled and publised in the Dec. 14th issue of Accounting Today.

AFRs for October

The IRS has released the Applicable Federal Rates (AFRs) for the month of October:

	Annual	Semiannual	Quarterly	Monthly
Short-term (≤ 3 years)	0.75%	0.75%	0.75%	0.75%
Mid-term (> 3 years but ≤ 9 years)	2.66%	2.64%	2.63%	2.63%
Long-term (> 9 years)	4.10%	4.06%	4.04%	4.03%

New Use Tax Registration Requirements

The California State Board of Equalization (BOE) announced that thousands of California qualified purchasers are now required to register with the BOE and file use tax returns by April 15 of each year, reporting all purchases subject to use tax from the previous calendar year, beginning with purchases made during the 2009 calendar year. A qualified purchaser is a business that meets all of these tests:

• Is not required to hold a seller’s permit with the BOE;
• Is not required to be registered or otherwise register with the BOE;
• Is not a holder of a use tax direct payment permit; and
• Receives at least $100,000 in gross receipts per year from business operations.

The BOE has begun notifying 184,000 businesses of this requirement by letter.

More information is available on the BOE website

Subcontracting to Snag Stimulus Dollars

From the Wall Street Journal last week: For small business owners trying to find a way into the lucrative market for federal contracts, subcontracting can provide a back door. With billions of extra federal dollars being offered though the economic stimulus package, many small business owners have set their sights on winning contracts directly from federal agencies. For those with no previous experience, this may be aiming too high. By subcontracting, business owners can boost their profits and learn about the many requirements of government work without the requirement to meet all of them. At the same time, they can provide the prime contractor with expertise and resources they may lack. Attending meet-and-and greets held by federal agencies, trade shows, conferences and other networking events, such as those sponsored by the U.S. Small Business Administration and industry-related associations, can help get in front of prime contractors and decision makers at federal agencies. Entrepreneurs can also post their profiles online and network with contractors through Web sites such as the Federal Contracting Network at www.tfcn.us and at www.mySBX.com. (Some charge fees, although basic services and listings are often free.) Small businesses can also sign up with large prime contractors through their corporate Web sites. Browsing sites, such as the SBA's Subcontracting Network (www.sba.gov/subnet), where prime contractors post opportunities, can be a way to identify key players.

Remembering

The team of ThomasYork remembers and honors those who lost their lives 8 years ago, their families, and the brave men and women who put themselves in harm's way to save strangers. They will never be forgotten.

How to Win Federal Contracts

Today, the Small Business Administration (SBA) launched a new online training course titled "How to Win Federal Contracts." From the press release:

“Government contracts can play a key role in helping small businesses turn the corner in terms of expansion and job creation,” SBA Administrator Karen G. Mills said. “But make no mistake, the benefits the government receives are equally as impressive – working with small businesses allows the federal government to work with some of the most innovative companies in America, often with direct contact with the CEO.” “The SBA online training course can help businesses access the federal purchasing system and position themselves to compete for the commercial opportunities offered by government contracting,” Mills continued.

The course is available at the SBA website.