For businesses investing in innovation, the One Big Beautiful Bill Act (OBBBA) brings long-awaited relief in how research and experimentation (R&E) costs are treated under Section 174 of the tax code. In addition to permanently restoring immediate expensing for domestic R&E costs beginning in tax years after December 31, 2024, the legislation creates a [...]
Created with the goal of fostering innovation and technological advancement in the U.S., the Research and Development (R&D) Tax Credit—also known as the Research and Experimentation (R&E) Credit or the credit for increasing research activities—saves businesses billions of dollars each year. However, the majority of those savings are claimed by large corporations, with many smaller [...]
From designing sustainable buildings to developing plans that incorporate more cost-efficient materials or construction methods, architects and engineers often pursue innovative new techniques in their day-to-day work. However, many architecture and engineering firms miss out on the opportunity to significantly reduce their tax burdens with a commonly overlooked incentive: the Research and Development (R&D) Tax [...]