Join this webinar which is part of a two-part series.* The TCJA requirement to capitalize and amortize Section 174 R&E expenditures for the 2022 taxable year has left many tax professionals forced to identify Section 174 R&E expenditures—a situation which often drives taxable income and cash tax payments higher for taxpayers.
In this session, we will apply Section 174 regulations and definitions to an example, highlighting differences between Section 174 and Section 41. We will also evaluate Section 280C elections and identify the required statement versus Form 3115.
Learning Objectives:
WithumSmith+Brown, PC
National Lead, Federal Tax Policy at Withum
lmucenskikeck@withum.com
(585) 313-0146
Lynn has over twenty years of experience in the accounting industry specializing in federal domestic and international tax planning for businesses, pursuing optimization to maximize cash impact. In her pervious firm, she helped initiate, establish, and co-lead the PPP & More Consulting team for purposes of disseminating information internally and externally regarding the Families First Coronavirus Response Act, CARES Act, Consolidated Appropriations Act, 2021, and American Rescue Plan Act. This included leading multiple external webinars with over 3,000 participants, writing client alerts, as well as conducting internal trainings and the creation of standard PPP debt forgiveness and ERC reports. Lynn received her Bachelor of Science degree in Accounting from St. John Fisher College and a Master’s in Taxation from the University of Denver. She is a CPA, licensed in New York and a member of the American Institute of Certified Public Accountants. Most recently, Lynn was appointed as a Forbes Tax Contributor in February of 2021.
WithumSmith+Brown, PC
Principal
tcollins@withum.com
(212) 829-3290
Tyler is a Principal at WithumSmith+Brown’s Research and Development (“R&D”) Tax Credit Services group. He joined Withum’s New York City office in 2017 after starting his career with the Big 4. In his role, Tyler helps clients across various industries maximize returns, optimize results, and increase cash flows related to R&D investments, including assistance with technical issues, research credit reviews, identification of exposure items, and defense of the credit during an examination.