2024 Section 174: New Rules for the R&E Deduction
1.00 Credits
Member Price $39
Non-Member Price $59
Overview
This program addresses the most recent developments impacting taxpayers incurring research and experimentation costs. Emphasis will be placed on compliance with the 2022 change in Section 174 Amortization of research and experimental expenditures.
**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.
Highlights
- Impact of the Section 174 law change requiring capitalization of research and experimental costs
- Comparison of the Section 41 R&E credit to the Section 174 R&E deduction
- Financial accounting for R&E costs
- Required change of accounting method and Form 3115
- Revised treatment of software development costs
- Comprehensive case problems explaining implementation of the law changes
Prerequisites
Basic working knowledge of business taxation
Designed For
CPAs in public practice and industry seeking an update on the latest tax developments affecting research and experimental costs
Objectives
- Identify recent changes affecting the deduction of research and experimental expenditures
Preparation
None
Leader(s):
Leader Bios
Steven Dilley, Federal Tax Workshops
Steven C. Dilley, CPA, JD, PhD, is president of Federal Tax Workshops, Inc., located in East Lansing, Michigan. He is nationally known for his knowledge of the financial, accounting and tax problems of the closely held business and individual taxpayers. He has published numerous articles on these topics. In addition, Steve is a professor of accounting at Michigan State University, where he teaches tax accounting and has recently received two teaching awards. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, the American Accounting Association, AICPA, American Tax Association and Hawaii Association of Public Accountants.
Non-Member Price $59
Member Price $39