2016 IRS Mileage Rates Decrease

IRS pic

IRS
Image: smallbiztrends.com

Larry Soldinger is a managing partner and the founder of LJ Soldinger Associates, an accounting and tax firm. Larry Soldinger helps clients file their tax returns and navigate new IRS rules and changes to the tax code.

One change coming in 2016 is a decrease in the official mileage rates the IRS will allow taxpayers, who can deduct mileage when they use a vehicle for business, medical, or charitable purposes or when moving. The rate in 2016 is 54 cents per mile when a car is driven for business. However, this is a decrease of 3.5 cents per mile from the rate in 2015.

According to the IRS, the rates are based on an independent third-party study of the overall cost of vehicle operation. While many people are disappointed, it comes as no surprise that the mileage rate has decreased. This is because the rate should reflect a decrease in gas prices.

There are many contingencies regarding mileage deductions. It is important to consult a tax professional, like those at LJ Soldinger Associates.

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London’s Michelin-Rated Alain Ducasse at the Dorchester

Alain Ducasse at the Dorchester  pic

Alain Ducasse at the Dorchester
Image: alainducasse-dorchester.com

Larry Soldinger is a respected business consultant and accountant with more than two decades of experience leading L J Soldinger Associates. Larry Soldinger has a passion for fine dining and traveling and enjoys seeking out Michelin-rated restaurants in Europe. Boasting more than a dozen restaurants that have received Michelin stars, London is a fertile ground for the gastronomically inclined.

Two noted London establishments have achieved a perfect three-star rating: Gordon Ramsey’s flagship location and Alain Ducasse at the Dorchester. The latter restaurant features a restrained, traditional approach to fine dining. French favorites, from truffled chicken quenelles to foie gras, dominate the menu. A nod is made to British cuisine through menu items featuring premium local ingredients such as Denbighshire pork and Dorset crab.

A perennial favorite is the Cookpot, a trademarked pastry-enclosed casserole that features the season’s freshest ingredients. In the winter months, these might be apple, butternut squash, and Montgomery cheddar. In the summer comté cheese and greens such as asparagus predominate.

Factors in Forming International Mergers and Acquisitions

L J Soldinger Associates pic

L J Soldinger Associates
Image: soldinger.com

Larry Soldinger leads the certified public accounting firm L J Soldinger Associates and provides clients with strategies in the corporate planning and budgeting spheres. Larry Soldinger has extensive experience in tax matters and assists clients in complex mergers and acquisitions (M&A). One of the major considerations in any M&A undertaking is whether the transaction is international or domestic.

M&As that span country borders require an extensive due diligence and data collection process, which is necessary to ensure compliance with multiple countries’ regulations for international business. Risk factors range from differences in labor laws to health benefits and pension plans, as well as employment security regulations. In addition, there are cultural and societal factors to be considered in ensuring a seamless integration of diverse workforces.

Global companies that already have a subsidiary presence in the country have an inbuilt advantage, through first-hand operational experience. However, even if the subsidiary’s role in the M&A has been clearly defined in advance, there is considerable coordination and planning to perform. With any international M&A on the horizon, it makes sense to consult with a well-qualified advisor.