Prepare to amortize: Inflation may spell doom for R&D tax expensing

Andrew Leahey
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Andrew Leahey is a solo tax, finance and technology attorney in New Jersey.


Research and development (R&D) tax breaks are a set of tax incentives intended to attract firms with high research expenditures to the United States. They’ve existed for going on 70 years, but the Tax Cuts and Jobs Act (TCJA) in 2017 changed how they can be expensed.
Namely, starting in tax year 2022, R&D expenditures can no longer be expensed in the first year of service, and instead those expenses w

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