For businesses that incur research and development (R&D) costs, there is an important tax change occurring for 2022. Prior to 2022, Section 174(a) allowed a taxpayer to treat research and experimental/development expenditures which are paid or incurred during the taxable year as deductible. There was also an election to capitalize R&D. Research and Development: Tax … Continue reading 2022 R&D Tax Deduction Changes