Rev. Proc. 2025-28 provides a practical framework for large taxpayers and taxpayers treated as tax shelters to implement the new §174A rules beginning in 2025 and to accelerate recovery of domestic §174 costs that were capitalized during 2022–2024. For most large taxpayers, the starting point is simple: the taxpayer’s accounting method choice is reflected by … Read more
What CPAs Need to Know About Timing, Method Changes, and Missed Opportunities Introduction Recent legislative changes have reshaped how several long-standing tax incentives operate in practice. For CPAs, the result has been a mix of opportunity and confusion—particularly at the intersection of the Research & Development (R&D) tax credit, mandatory capitalization under Section 174, and … Read more
If you advise business owners or real estate investors, expect the question to come early and often in 2026: “Now that bonus depreciation changed again, should we do a cost segregation study?” For CPAs, this is not a gimmick question. It is a high-impact planning decision that affects taxable income, cash flow, and how quickly … Read more
In a letter dated July 31, 2025, the American Institute of CPAs (AICPA) pressed the Department of the Treasury (and IRS) for immediate guidance on the application of Section 174A, which governs domestic research and experimental expenditures for eligible small business taxpayers Under a provision of recent legislation (Sec. 70302 of H.R. 12), eligible small businesses may … Read more
The One Big Beautiful Bill Act (OBBBA), enacted July 4, 2025, finally fixed Section 174—bringing back immediate expensing of domestic R&D expenses starting in tax years beginning after December 31, 2024. But the law left a big question unanswered: How and when will the IRS issue procedural guidance to implement the changes? As businesses, CPAs, and tax advisors … Read more
The passage of the One Big Beautiful Bill Act (OBBB) marks a major shift in the U.S. tax landscape—one that brings long-awaited relief for small businesses, real estate investors, and innovative companies. With sweeping updates to depreciation rules, R&D expensing, clean energy incentives, and more, 2025 presents a powerful opportunity to realign your tax strategy. … Read more
The Section 179D Energy-Efficient Commercial Buildings Deduction has been a cornerstone of U.S. tax policy, incentivizing energy-efficient upgrades in commercial and multifamily properties. Offering deductions of up to $5.00 per square foot for energy-saving improvements, this powerful tax benefit has driven sustainable building practices while delivering significant financial relief to property owners, developers, architects, and … Read more
The Research & Development (R&D) Tax Credit remains one of the most powerful tools for driving down tax liability—yet many eligible businesses fail to take full advantage. In this high-impact session, CPAs will learn how to identify qualified research activities, optimize documentation strategies, and unlock significant savings under current tax law. But that’s not all—this … Read more
Congress has officially passed a long-awaited fix to the R&D tax rules. With the enactment of Section 174A, businesses can once again immediately deduct domestic research expenses—eliminating the burdensome capitalization requirements that have been in place since 2022. The legislation has cleared both chambers of Congress and is now signed into law, with IRS guidance … Read more
This is a lightly AI-edited transcript of the CPE webinar “Tariffs and Transfer Pricing: How to Stay Compliant and Avoid IRS Scrutiny,” presented by Eric Tuthill, CPA, and Cheri Valerio, CPA of Corporate Tax Advisors. While based on the original audio, the transcript has been cleaned up and enhanced for clarity and readability to help … Read more
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