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myCPE

Section 174 R&D Capitalization- New and Updated Rules 2 Credits

Dec 24, 2024, 03:00 PM ET

Section 174 R&D Capitalization- New and Updated Rules 2 Credits

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Dec 24, 2024, 03:00 PM ET

Learning Objective

  • Understand the recent changes to Section 174 of the Internal Revenue Code, focusing on the capitalization and amortization of R&D expenses.
  • Identify which R&D expenses must now be capitalized and the specific amortization periods applicable under the new rules.
  • Analyze the impact of the Section 174 changes on business tax liabilities and financial statements, including potential increases in taxable income.
  • Explore strategic tax planning opportunities to minimize the impact of these changes on business operations and R&D investments.
  • Develop a comprehensive compliance strategy to ensure adherence to the new Section 174 requirements, including proper documentation and reporting of R&D expenses.

Course Overview

In the ever-evolving world of research and development (R&D), staying abreast of regulatory changes is crucial for businesses aiming to maximize their returns on innovation investments. 

One such critical aspect is Section 174 of the Internal Revenue Code, governing the treatment of R&D expenses for tax purposes. Recent updates to Section 174 have brought about significant changes, shedding light on the capitalization of R&D costs. This CE Course explores the new and updated rules under Section 174, offering insights into how businesses can adapt and thrive in this dynamic.

In this course, we will guide professionals through recent amendments in tax law that influence the capitalization and amortization of research and development (R&D) expenses. Offering a thorough examination of the modifications to Section 174, the course distinctly outlines the implications for businesses actively involved in R&D activities. Participants will delve into the specifics of newly capitalizable expenses, revised amortization periods, and strategic planning opportunities aimed at mitigating the tax impact. Real-world examples and expert guidance facilitate the acquisition of practical skills, empowering attendees to implement these changes effectively. The course ensures organizations maintain compliance while adeptly managing their R&D investments. 

Major Topics Covered:

  • Recent changes to Section 174 of the Internal Revenue Code
  • R&D expenses must now be capitalized
  • The impact of the Section 174 changes on business tax liabilities and financial statements
  • Strategic tax planning opportunities
  • Develop a new compliance strategy to ensure adherence to the new

Join this CE Tax Course as the participants will be well-equipped to navigate the intricacies of Section 174, optimizing their tax planning strategies in response to these noteworthy regulatory updates.

Looking to fulfill your Enrolled Agent (EA) Continuing Education (CE) requirements? MY-CPE online Enrolled Agent CE courses are the best for you. Earn EA CE credits while enhancing your domain knowledge and expertise in diverse tax regulations and practices. Our courses are designed to provide you with the latest updates and deep insights to keep you ahead in your field. With flexible scheduling and a user-friendly platform, MY-CPE offers you a greater convenient and interactive learning experience. Join MY-CPE today and take the next step in advancing your career as an Enrolled Agent. 

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On Demand Credits

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Additional Information

Credits

2

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Crystal Stranger
Crystal Stranger , EA

Chief Executive Officer (CEO), Optic Tax, Inc

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Crystal Stranger holds a Juris Doctor of Law degree, is an Enrolled Agent (EA), EOS Integrator, and professionally Senior Tax Director and CEO of OpticTax.com. Bringing over 20 years of finance, accounting, and leadership experience she enjoys helping startups stay focused on the big picture objective while maintaining an eye to the details and performing realistic risk assessments.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Ratings and Review

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RH

Richard Howard, CPA (US)

This was my first course with myCPE. Instructor was very knowledgeable and very effective in her presentation. I wish the slides were generated differently so that they are searchable. I was trying to find a section that had been discussed and could not use the text search function as the pdf was scanned images only. It took too long to find what I was looking for.

HJ

Holly Jorud, CPA (US)

I could tell Crystal knew a great deal about her subject and we benefitted from that. There was lots of good information here!!

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