3 ms·
How long was the provision in place before Congress decided not to extend it?
by mbrameld 3y ago
How long was the provision in place before Congress decided not to extend it?
- agwa 3y agoR&E expenses were fully deductible since 1954. "Extend" is a bit of a misnomer because there was no expiration date. Rather, the The Tax Cuts and Jobs Act of 2017 made a change, effective 2022.
- phoehne 3y agoTo be fair, software development in 1954 is not software development today. It's less pure research. It's more akin to building the electrical infrastructure you need for a business. Even though I see the logic of treating software developed as a capitalized asset, I don't necessarily think the outcome will be net good.