Michael Silvio, CPA
Tax Partner | Recognized Leader in the Federal Credits and Incentives Tax Specialty | Macias Gini & O'Connell, LLP
Mike Woeber
President and Co-founder | Tax Advisor & Accounting Consultant | Corporate Tax Advisors, Inc.
Martin Karamon, J.D., LL.M.
Partner | Cherry Bekaert Advisory LLCUnderstanding R&D Tax Credits and Amortization: Navigating Changes and Maximizing Benefits | On-Demand Webinar
Broadcast Date: Wednesday, August 30, 2023 from 12:00 pm to 1:30 pm (ET)
Encouraging and supporting research and development (R&D) has been a fundamental principle in U.S. tax policy. The R&D tax credit allows many small and medium businesses to innovate and financially grow. However, in 2022, the Congress implemented a significant change to IRC Section 174 which mandates R&D costs to be amortized over five years, rather than taking an immediate deduction. This resulted to a substantial tax burden on businesses.
To ensure compliance and maximize the benefits of R&D tax credits, companies must keep tabs on the new legislative developments that will likely impact their tax liability.
Listen as a panel of distinguished thought leaders and practitioners organized by The Knowledge Group offer a comprehensive roadmap to successfully navigate the recent shifts in R&D tax credits and amortization. Speakers will provide powerful insights on how to leverage opportunities.
Key Topics:
- R&D Tax Credit Updates
- Notable Implications of Amortization on Businesses
- How to Maximize R&D Tax Credit Opportunities
- Best Compliance Strategies
- What Comes Next?
Learning Objectives:
- Understand the recent shifts in R&D tax credits and amortization and their implications on businesses.
- Learn effective strategies to maximize R&D tax credit opportunities and develop best compliance practices.
Agenda:
Segment 1, Michael Silvio, CPA, Tax Partner
Recognized Leader in the Federal Credits and Incentives Tax Specialty, Macias Gini & O’Connell, LLP
- What is Sec. 174 capitalization and how does it differ from the R&D credit?
- Discussion of the history behind how the Sec. 174 costing rules arose.
- Discussion of Sec. 174 costs to include and potential methodologies for determining qualifying costs.
Segment 2:
Mike Woeber, President and Co-founder, Tax Advisor & Accounting Consultant, Corporate Tax Advisors, Inc.
- Beyond Section 41 QREs
- Foreign Activity
- Depreciation and Amortization
- Other Incidental Costs for Development
- Section 174 Costs – Software Development
- Software Licenses and Data Subscription
Segment 3:
Martin Karamon, J.D., LL.M., Partner, Cherry Bekaert Advisory LLC
- Substantiation of IRC Section 174 Costs
- Mathematical Example of Capitalization and Amortization over five years.
- New Administrative Guidance
Who Should Attend:
- R&D Tax Credit Professionals
- Tax Lawyers
- Tax Directors
- Tax Managers
- Tax Executives
- Tax Associates
- Tax Advisors and Analysts
- Tax Compliance Officers
- Chief Financial Officers
- Controllers/Comptrollers
- Accountants
CLE Credit:
Course Level: Intermediate
Advance Preparation: Print and review course materials
Method of Presentation: On-Demand Webcast
Prerequisite: General knowledge of tax laws
Course Code: 1410906
NY Category of CLE Credit: Areas of Professional Practice
NASBA Field of Study: Taxes – Technical
Total Credits:
1.5 CLE | 1.5 CPE (Not eligible for QAS (On-demand) CPE credit)