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Wait... how can I learn more about how this affects engineers?
by xutopia 2y ago
Wait... how can I learn more about how this affects engineers?
- ricktdotorg 2y agolook up "IRS Section 174 changes". here is a decent link, specific to startups[0]. but a simplified TL;dr is that companies used to be able to expense that year's R&D costs (including salaries for developers etc) in that same taxable year. now, that is no longer the case, and companies must amortize those R&D costs over 5 years. this is not ideal. [0] https://www.axios.com/2024/01/20/taxes-irs-startups-section174 https://www.axios.com/2024/01/20/taxes-irs-startups-section1...
- sifar 2y agoThis is a good explanation. https://blog.pragmaticengineer.com/section-174/ https://blog.pragmaticengineer.com/section-174/ A recent bill has given relief for the domestic amortization but is still stuck in the senate. https://gop-waysandmeans.house.gov/wp-content/uploads/2024/01/H.R.-7024-Section-by-Section.pdf https://gop-waysandmeans.house.gov/wp-content/uploads/2024/0...