Posted on June 14, 2024 by
Mark Leaheey
The research and experimental (R&E) tax deduction under Section 174 of the Tax Code has been a boon to U.S. businesses since its introduction in 1954. However, the rules for how taxpayers may claim a benefit for these costs changed in 2022, restricting short-term cash flow. Now, two years later, Congress may have found a […]
Posted on March 27, 2023 by
Karen Lake
Congress closed out another year without restoring taxpayers’ ability to fully deduct research and development (R&D) expenditures in the year incurred, a taxpayer-friendly provision of the Internal Revenue Code that had been in place for nearly 70 years before 2022. This change has had significant implications for many businesses that were again surprised to find […]
Posted on February 21, 2023 by
Karen Lake
Mentioning the federal research and development (R&D) tax credit often conjures up images of scientists in white coats conducting lab experiments. Truth be told, the credit, which can reduce taxpayers’ federal tax liabilities, applies to a wide variety of activities conducted by companies outside of labs in an even broader range of industries, including construction […]
Posted on September 08, 2021 by
Karen Lake
The federal research and development (R&D) tax credit is one of the most valuable tax incentives while also being one of the most misunderstood. Contrary to popular belief, eligibility is not limited to businesses that employ scientists, develop cutting-edge products or make groundbreaking discoveries. Rather, it may apply to businesses, large and small, in a […]
