Category: News & Media

  • Section 174: Understanding Research & Development Expenditures

    Section 174: Understanding Research & Development Expenditures

    Research and development (R&D) are critical drivers of innovation and growth for many businesses. They encompass the activities involved in creating new products, improving existing ones, or developing new processes. Recognizing the importance of R&D, the U.S. tax code provides specific provisions under Section 174 that affect how businesses account for and deduct their R&D…