Section 174 Research & Software Development Costs – A Guide to Compliance

Participants of the free live webinar will be eligible for 1 CPE credit.

Register

Section 174 Research & Software Development Costs – A Guide to Compliance

Date: Wednesday, March 8, 2023 at 3 PM – 4 PM EST

For tax years beginning in 2022, Internal Revenue Code Section 174 (Sec. 174) requires taxpayers to capitalize and amortize specified research or experimental expenditures. Taxpayers can follow the Internal Revenue Service (IRS) guidance to adopt this new capitalization/amortization method by filing a statement with their 2022 tax returns.

Sounds like a simple accounting method change, but there are many questions left open for taxpayers to navigate. Join leaders from the Cherry Bekaert Tax Credits & Incentives Advisory team as we answer these questions and cover:

• Define research and experimentation and software development qualifying expenses
• Discuss what is not considered Sec. 174 expenses
• Determine how your industry is impacted by the Sec. 174 changes
• Learn how to file for the accounting method change through IRS guidance
• Address issues that are still uncertain or unknown

CPE Accreditation

Delivery Method | Group Internet Based
Recommended CPE credit | Up to 1 hour CPE, pending approval
Recommended Field(s) of Study | Accounting
CPE Capability | Basic
Prerequisites | None
Program Level | Basic
Advanced Preparation | None

Speakers

Martin Karamon, J.D., LL.M. | Partner, Tax Credits & Incentives Advisory, Cherry Bekaert
Vivian Kohrs, CPA | Director, Tax Credits & Incentives Advisory, Cherry Bekaert
Corning Pearson, CPA, MST, MBA | Director, Tax Credits & Incentives Advisory, Cherry Bekaert