3 ms·
The R&D tax credit change actually took effect in 2022, and one of the few good things Trump's BBB did was reverse it
by stult 4mo ago
The R&D tax credit change actually took effect in 2022, and one of the few good things Trump's BBB did was reverse it
- green7ea 4mo agoIt only reversed it for within the US, I learned that when the company I worked for (owner was a US company) closed.
- trollbridge 4mo agoRight, you can only deduct R&D expenses that happen inside the U.S. If you want to do R&D overseas, best to set up an overseas company.
- tczMUFlmoNk 4mo agoThis is true as stated. However, it is important context that the time bomb was originally introduced in Trump's signature Tax Cuts and Jobs Act in his first term. So, yes, Trump's OBBBA fixed it, but Trump's TCJA caused it in the first place, too.
- irishcoffee 4mo agoThis is a fair criticism and I am not defending the practice. My understanding is that time-bombs like this are very regularly introduced into all sorts of bills, party-agnostic. It's how they can say things like "We saved $X over Y years!" where a lot of the time-bombs go off half-way through the 'Y-years" bit unless renewed. Please correct if I'm wrong about this. I only know what I read, which is hard to trust anymore.
- vineyardmike 4mo agoThey’ve been regularly introduced in a party-agnostic way, exclusively by republicans. But yea, “party agnostic”.
- irishcoffee 4mo agoYou should look up the American rescue plan and reflect on why the government shut down recently.
- gsky 4mo agoTrump takes credit for fixing problems that he created in the first place.