Firestone Tax

Game-Changer for R&D: The Big Beautiful Bill Brings Back Immediate Deductions Under Section 174

R&D Tax Credit, Uncategorized / By

If you’ve been tangled up in Section 174 capitalization headaches since 2022, here’s the update you’ve been waiting for: the One Big Beautiful Bill Act just flipped the script. For tax years beginning on or after January 1, 2025, domestic R&D costs are once again 100% deductible in the year they’re incurred. For innovative businesses—and the …

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3 Overlooked Industries for R&D Tax Credits- What CPAs Need to Know

3 Overlooked Industries for R&D Tax Credits: What CPAs Need to Know

R&D Tax Credit / By

If you’re a CPA advising business clients, you likely know which industries (like software and technology) clearly qualify for the R&D tax credit. But what about the not-so-obvious industries? The ones quietly innovating behind the scenes—without lab coats or patent filings. These businesses may not look like traditional “research and development” outfits, but their operations …

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