IRC 41 & 174 Uncertainty: What Every CPA Should Know

In this episode of Let’s Talk Tax, host ⁠TJ Sponsel⁠ and first-time guest ⁠Garrett Duffy⁠ delve into the technical distinctions between ⁠Sections 174 and 41⁠ of the tax code. They discuss the challenges CPAs face when advising clients on these ⁠R&D tax credits⁠, the misconceptions surrounding them, and the industries most affected. Tune in to gain insights on how to navigate these complex regulations and the broader implications for small and large businesses alike.