Paths to Correction: Tackling 174 Amortization

In this episode, host ⁠TJ Sponsel⁠ welcomes back guest ⁠David Seibel⁠ to discuss the implications of IRC 174 amortization.

When developing software, there are many questions that must be addressed before claiming the U.S. R&D Tax Credit. Since 2016, one vital distinction that must be made is identifying whether the software is being developed for internal use, sales/lease, or dual function.

We understand the confusion surrounding Section 174 and Section 41.

Tim LeMasters and TJ Sponsel dive into the latest growth strategies and opportunities across all areas of specialty tax. As we approach tax planning season, this session will provide you with insider knowledge on how to maximize credits, deductions, and incentives for your clients or business.

Navigating the nuances of Internal Revenue Code (IRC) 174 guidance is necessary to properly amortize research and experimental expenditures related to design under IRC 174.

McGuire Sponsel worked with a precision motion systems manufacturer to perform an R&D Tax Credit study to maximize benefit.

In this episode, host ⁠TJ Sponsel⁠ welcomes back guest ⁠David Seibel⁠, principal of McGuire Sponsel’s ⁠R&D Tax Credit Services⁠ practice to discuss the ongoing uncertainty surrounding ⁠Section 174⁠ and its impact on CPAs and the R&D Tax Credit.

McGuire Sponsel worked with three industrial manufacturing companies to perform an R&D Tax Credit study collectively to maximize benefit for the parent company.

McGuire Sponsel worked with a financial software company to perform an R&D Tax Credit study to maximize benefit.

McGuire Sponsel worked with a financial software company to perform an R&D Tax Credit study to maximize benefit.