By: Editorial Staff, Date: August 22nd, 2023
R&D tax credits and amortization can save businesses money on research and development expenses. In this infographic, learn how to amplify your returns while driving forward the frontiers of research and development.
Learn more at our complimentary Webcast: Understanding R&D Tax Credits and Amortization: Navigating Changes and Maximizing Benefits
Upcoming Webcasts
Major Reforms in R&D Tax Credits 2023: Exploring Opportunities for Your Firm
The Tax Cuts and Jobs Act (TCJA) has been beneficial for companies engaged in research and development (R&D). It kept the R&D tax credit permanent and eliminated other tax credits and incentives in exchange for lower tax rates. However, beginning after December 31, 2021, the taxpayer option to deduct current R&D expenditures was abolished. It now requires the charging of expenditures to a capital account and amortizing them in a specified number of years.