Public Company Accounting after the Sarbanes-Oxley Act

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L J Soldinger Associates
Image: soldinger.com

With over three decades of experience in transactional accounting, Larry Soldinger is knowledgeable in a wide range of specialty areas. Through LJ Soldinger and Associates, where he serves as managing partner, Larry Soldinger provides services such as tax planning, mergers and acquisitions, business consulting, accounting and assurance, and public company services. LJ Soldinger and Associates is one of the few mid-size accounting firms qualified to provide public company services.

Working with an accounting firm well versed in public company compliance and accounting can be beneficial for corporations, particularly after the passage of the Sarbanes-Oxley Act in 2002. This act reformed financial disclosures in order to reduce incidences of fraudulent accounting. As companies work to ensure that the standards set forth in the Sarbanes-Oxley Act are met, using an accounting firm that is well acquainted with the requirements of the act can streamline the process of compliance and make sure that all the provisions are met.

2016 IRS Mileage Rates Decrease

IRS pic

IRS
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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.