Arrow Exchange Tax Solutions

The optional standard mileage rate used to calculate the tax-deductible cost of operating a business vehicle increased in 2025. The IRS announced that the cents-per-mile rate for the business use of a car, van, pickup or panel truck is 70 cents. In 2024, the rate was 67 cents per mile. The standard rate is useful if you don’t want to track actual vehicle-related expenses. But you still must record certain information, such as the mileage, date and destination for each trip. The standard mileage rate is adjusted annually and calculated based on driving costs, including the price of gas. According to AAA, the national average price of a gallon of regular gas on Jan. 17 was $3.11. #itsyourmoneynottheirs #taxplanning #taxseason

Happy Pancake Day !! Yummy in my tummy! Pancakes with peanut butter and maple syrup for me! I also add cottage cheese to the mix for an extra protein boost. What is your favorite way to enjoy pancakes? #PancakeDay #NomNom #ArrowExchange #Tax #itsyourmoneynottheirs #TaxPlanning

Not all packages your business receives are legitimate. Office supply scammers attempt to trick businesses into paying for merchandise they didn’t order. We explain how to prevent such fraud. https://lnkd.in/gZP3tGZt #ArrowExchange #Tax #itsyourmoneynottheirs #TaxPlanning #Fraud #officsupplies

If you’re the owner of a pass-through entity, the federal income tax rules for gains from the sale of business real estate or vacant land may be more complicated than you thought. Here’s a look at the issues. https://lnkd.in/gR6vxWbD #ArrowExchange #Tax #itsyourmoneynottheirs #TaxPlanning #SmallBusiness #RealEstate #Gains

After your death, events may transpire that you couldn’t have reasonably foreseen. To provide some flexibility, consider including a trust provision in your estate plan that provides a designated beneficiary a power of appointment over the trust’s property. The holder of the power of appointment can have the discretion to change distributions from the trust. There are two types of powers: general, and limited or special. A general power allows the holder to appoint the property for the benefit of anyone. A limited or special power allows the holder to give the property to a select group of people who’ve specifically been identified by the deceased. Contact us for details at aetaxsolutions.com

The tax landscape for businesses may change significantly in the near future. That’s because provisions in the Tax Cuts and Jobs Act are scheduled to expire and the November elections will be decided. Here are some possible outcomes. https://lnkd.in/gtPUYb2H #ArrowExchange #Tax #itsyourmoneynottheirs #TaxPlanning #TCJA #taxcutsandjobsact #election

Celebrating Charity Day: A Call to Serve Today, we celebrate Charity Day, a reminder of our call to serve and love our neighbors as ourselves. As Christians, we are inspired by the teachings of Jesus to give generously and selflessly. “Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver.” - 2 Corinthians 9:7 On this special day, let’s reflect on the ways we can make a difference in our communities: Learn: Take time to understand the needs around you. Whether it’s through volunteering or simply listening, knowledge is the first step to impactful giving. Reflect: Spend a moment in prayer, asking God to guide your actions and fill your heart with compassion. Give Thanks: Remember to thank God for the blessings you have and the opportunity to share them with others. Act: Whether it’s donating to a local charity, helping a neighbor, or supporting a cause close to your heart, every act of kindness counts. Let’s come together as a community, inspired by the love of Christ, to spread kindness and hope. Happy Charity Day! #charity #community #ArrowExchange #Tax #itsyourmoneynottheirs #TaxPlanning

In a divorce, dividing certain types of property, such as assets in a qualified retirement plan, can be especially complicated. A qualified domestic relations order (QDRO) may provide for the transfer of assets in a qualified retirement plan to a nonparticipant spouse without incurring dire tax consequences (thus, preserving more for your estate). A court with jurisdiction or another authority issues the QDRO. It will state either a dollar amount or a percentage of assets that belongs to the spouse of the participant, called the “alternate payee.” It also specifies the number of payments to be made (or the length of time for which the terms apply). Contact us for additional details. #DivorcePlanning #RetirementAssets #QDRO #FinancialPlanning #DivorceAdvice #RetirementPlanning #DivorceSettlement #FamilyLaw #TaxPlanning #DivorceSupport #ArrowExchange #tax #itsyourmoneynottheirs

?? Exciting News! ?? We’re thrilled to announce the launch of our brand-new website at Arrow Exchange Tax Solutions! ?? Whether you’re an individual or a small business, our new site is designed to provide you with the best tax planning services. Explore our resources, learn about the latest tax legislation impacts, and discover how we can help you build a strong, lasting business in our community. Check it out now and let us know what you think! ?? ?? aetaxsolutions.com #TaxPlanning #SmallBusiness #CommunityFirst #ArrowExchangeTaxSolutions