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2024 Section 174: New Rules for the R&E Deduction

Monday, December 30
 1:00pm - 1:58pm

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1.00 Credits

Member Price $39.00

Non-Member Price $59.00

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.

Objectives

  • Identify recent changes affecting the deduction of research and experimental expenditures

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

Designed For

CPAs in public practice and industry seeking an update on the latest tax developments affecting research and experimental costs

Prerequisites

Basic working knowledge of business taxation

Preparation

None

Notice

Your webinar can be accessed via https://ctcpas.acpen.com/Account/loginhttps://ctcpas.acpen.com/. If you do not have an ACPEN account, please sign up for an account using the email address you have on file with CTCPA.

Leader(s):

Leader Bios

Steven Dilley, Federal Tax Workshops

Steve is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 33 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. 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, East Lansing, where he teaches tax accounting. He received the 2005 "Distinguished Achievement in Accounting Education Award" in Michigan. He also received the 2007 "MSU Accounting and Information Systems Department Outstanding Teacher Award."

He obtained his Ph.D. in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. 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.

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Non-Member Price $59.00

Member Price $39.00