The home sale exclusion remains one of the biggest and best tax breaks on the books. If a married couple filing jointly qualifies, they can exclude from tax up to a half million dollars of their profit when they sell their principal residence. However, you must meet certain requirements spelled out in the tax law. Significantly, the exclusion may be jeopardized if a couple is getting divorced.

As an attempt to stimulate the restaurant industry, business meals prepared by a restaurant became 100% deductible to the employer for 2021 and 2022. Prior to this change, meals were mostly 50% deductible. Now, in 2023, we are back to where we were before the pandemic, so most meals are once again 50% deductible while entertainment expenses remain non-deductible.

Trusts often are used for estates that have significant assets, a complicated financial situation, or when there are minor children, or children or grandchildren with special needs involved. Trusts allow individuals to exercise greater control over how and when their money is disbursed to heirs, even long after they are deceased—rather than leaving money outright to a beneficiary in a will.

You have most likely heard on the news about people breaking into the blue mail boxes and stealing people's mail. Check fraud has been the main target from this outcome. Below is an article to help keep you safe.

The IRS has announced that it’s “open season” on false claims for the Employee Retention Credit (ERC). It is stepping up efforts to audit employers as aggressive promoters continue to make a pitch for fraudulent refunds (IR-203-40, 3/7/23). This type of scheme was recently included on the IRS’ list of the Dirty Dozen tax scams to watch out for in 2023.

Retiring abroad requires a lot of planning and often a good accountant. When people dream of jetting off to the French countryside or a tropical island to begin a new chapter in retirement, tax and banking policies don’t usually feature prominently in the fantasy. But pulling off a move overseas in retirement requires navigating financial rules in both the U.S. and one’s new home. Mistakes are easy to make and can be costly, financial advisers with international clients say.