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 …
https://www.firestonetax.com/wp-content/uploads/2025/01/Firestone-Tax-Solutions-Claiming-RD-Credits-in-2025.mp4 How Legislative Changes Have Impacted R&D Tax Credits in 2025 As we look ahead to 2025, businesses claiming the Research & Development (R&D) tax credit should be prepared for key legislative changes that will significantly impact their reporting requirements. These changes are aimed at enhancing tax reporting consistency and improving the quality of information …
Form 6765 Requirements and Section 174 Rules: Key R&D Tax Credit Changes for 2025 Read More »