Tuesday, December 22, 2009

Happy Holidays

From everyone at ThomasYork, we would like to wish you a Happy Holiday Season.

Please note that our office will be closed from Noon on Thursday, December 24th, until Friday, January 1, 2010. We will resume our normal business hours on Monday, January 4, 2010.

Thursday, December 10, 2009

It's December 10th, Have You Paid Your Property Taxes

As a gentle reminder most property tax payments are due today. Make sure you have paid your 1st installment. Payments must be postmarked today or you will be assessed a late penalty.

Tuesday, December 8, 2009

2009 Best Accounting Firms to Work For

During the summer everyone at TY participated in the 2009 Best Accounting Firms to Work For survey. We are proud to announce that we ranked #14 out of 20 in the Small Firm category (15-24 employees). Accounting Today’s Top 100 Best Accounting Firms to Work for rankings are available online at www.AccountingToday.com. The rankings will also be published in the December 14th issue of Accounting Today. 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.

Thursday, December 3, 2009

IRS Announces 2010 Standard Mileage Rates

The Internal Revenue Service today issued the 2010 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2010, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
  • 50 cents per mile for business miles driven
  • 16.5 cents per mile driven for medical or moving purposes
  • 14 cents per mile driven in service of charitable organizations
The new rates for business, medical and moving purposes are slightly lower than last year’s. The mileage rates for 2010 reflect generally lower transportation costs compared to a year ago. A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a Section 179 deduction for that vehicle. In addition, the business standard mileage rate cannot be used for any vehicle used for hire or for more than four vehicles used simultaneously. Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates. Revenue Procedure 2009-54 contains additional details regarding the standard mileage rates.