DuvallWheeler, LLP


Choosing the best way to reimburse employee travel expenses

  If your employees incur work-related travel expenses, you can better attract and retain the best talent by reimbursing these expenses. But to secure tax-advantaged treatment for your business and your employees, it’s critical to comply with IRS rules. Reasons to reimburse While unreimbursed

2017 – 09/14

Taxpayers can sometimes deduct bona fide bad debts on their taxes for the year a debt becomes worthless. One taxpayer advanced more than $80 million to a biotech firm over several years, but failed to secure promissory notes, collect interest or seek repayment. Some debt was exchanged for equity in

Save more for college through the tax advantages of a 529 savings plan

With kids back in school, it’s a good time for parents (and grandparents) to think about college funding. One option, which can be especially beneficial if the children in question still have many years until they’ll be starting their higher education, is a Section 529 plan. Tax-deferred compoun

2017 – 09/14

Republican senators unveil a new bill to repeal the Affordable Care Act (ACA). Senators Lindsey Graham (SC), Bill Cassidy (LA), Dean Heller (NV) and Ron Johnson (WI) released a bill that would repeal and replace the ACA with a block grant given annually to states to help people pay for […]

Charitable giving pièce de résistance: Artwork donations

Charitable giving is a key part of estate planning for many people. If you’re among them and own valuable works of art, they may be ideal candidates for charitable donations during your life. Generally, it’s advantageous to donate appreciated property because, in addition to gaining a valuable t