2024 Section 174: New Rules for the R&E Deduction
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
Notice
This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by Accounting Continuing Professional Education Network (ACPEN).
Leader(s):
Leader Bios
Steven Dilley PhD, Federal Tax Workshops Inc
Steven C. Dilley is a professor at Michigan State University where he teaches tax accounting. He obtained his PhD in accounting from the University of Wisconsin-Madison in 1972. In 1969 he also received a law degree and an undergraduate accounting degree from UW-Madison. He is a member of the Wisconsin Bar Association, the American Bar Association, the Wisconsin Institute of CPAs, the Michigan Association of CPAs, the American Accounting Association, the American Institute of CPAs, the American Taxation Association, and the Hawaii Association of Public Accountants. Steve is the President of the Federal Tax Workshops, Inc. This organization prepares continuing education materials and presents continuing education programs for accountants and attorneys throughout the United States. Steve is nationally known for his knowledge of taxation in general and especially for his knowledge of the financial, accounting, and tax problems of the closely held business. He has published numerous articles on those topics.
Non-Member Price $59.00
Member Price $39.00