Section 174: New Rules for R&E and OBBA Update
1.00 Credits
Member Price $39
Non-Member Price $59
Overview
This course introduces the new OBBA standards that redefine how research and experimentation are reported. Participants will learn key regulatory updates, compliance expectations, and best practices for aligning research activities with OBBA's principles of transparency, accountability, and innovation.
**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 terri.storer@acpen.com.
Highlights
- Revised rules for tax years 2022-2024
- How to change from amortizing R&E to immediately expensing R&E
- Analysis of the Revenue Procedure related to changes in accounting method
- Options available to change accounting methods
- Comprehensive example of how to make the accounting method change
- Distinction between R&E expense and R&E credit
Prerequisites
Basic 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 tax law changes affecting the deduction of research and experimental expenditures
- Apply compliance and planning strategies
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