Understanding R&D Tax Credits and Amortization: Navigating Changes and Maximizing Benefits.
Encouraging and supporting research and development (R&D) has been a fundamental principle in U.S. tax policy. The R&D tax credit allows many small and medium businesses to innovate and financially grow.
However, in 2022, Congress implemented a significant change to IRC Section 174, which mandates that R&D costs be amortized over five years, rather than taken as an immediate deduction. This resulted in a substantial tax burden for businesses.
To ensure compliance and maximize the benefits of R&D tax credits, companies must monitor new legislative developments that will likely impact their tax liability.
Listen as a panel of distinguished thought leaders and practitioners organized by The Knowledge Group offers a comprehensive roadmap to navigate the recent shifts in R&D tax credits and amortization successfully. Speakers will provide powerful insights into leveraging opportunities.
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Founded in November 2006, The Knowledge Group has established itself as a premier eLearning hub for Continuing Legal Education (CLE), Continuing Professional Education (CPE), and technology-focused webcasts. We equip lawyers, accountants, and industry professionals with expert-driven insights, timely regulatory updates, and practical strategies to help them stay ahead in an ever-evolving landscape.
Partner at Cherry Bekaert Advisory LLC
Martin Karamon, J.D., LL.M. focus on delivering federal tax credits and incentives services. His specialties include federal and state research credit analyses, Employee Retention Credits, New Markets Tax Credit services, hiring incentives including the federal Disaster Recovery and Retention credit, the Employee Payroll Retention Tax Credit, Qualified Opportunity Zone services, and IRS defense services.
President and Co-founder, Tax Advisor & Accounting Consultant at Corporate Tax Advisors, Inc.
Mike Woeber is the President and Co-founder of Corporate Tax Advisors, Inc., based in the CTA corporate office in Huntsville, Alabama. Mike began his career in 1989 working on the auditing and accounting team with Ernst & Young in Birmingham, Alabama. He focused on financial statement audits of publicly traded manufacturers, technology, and healthcare companies. After two years in audit Mike joined E&Y’s tax group and moved to their Huntsville, AL office. It was during his early years in Huntsville that he began advising privately held businesses on a variety of accounting and tax matters. This included financial statement audits, business tax preparation and individual tax preparation. It was during Mike’s 15 years as a tax partner with a regional firm that he began focusing on the research tax credit incentive. In 2014, Mike and a group of close associates formed Corporate Tax Advisors, Inc., with the goal of forming a national business that was not a “traditional CPA firm.” The purpose of CTA, is, as it always has been, to operate as a specialty tax consulting firm focusing solely on assisting companies in identifying potential tax credits and unique tax strategies. These include research & development, renewable energy, and employment tax credits.
Tax Partner at MGO
Michael serves clients across industries including real estate, tech, healthcare, manufacturing, and nonprofits. He has led hundreds of R&D credit studies and represented clients before the IRS and state tax agencies. He advises on income tax compliance, business growth strategies, wealth and estate planning, and tax incentives — including energy-efficient and federal/state grant programs. Michael is also a published author and speaker featured in The Tax Advisor, CFO.com, AICPA, CalCPA, and regional business journals.
