The Interplay Between IRC Sections 174 and 41

The Interplay Between IRC Sections 174 and 41

There have been many uncertainties and questions regarding the treatment of Internal Revenue Code (IRC) 41, Credit for Increasing Research Activities, as changes to IRC 174, Amortization of Research and Experimental Expenditures, came into play in tax year 2022. ...
Tax-Saving Opportunities for the Cannabis Industry

Tax-Saving Opportunities for the Cannabis Industry

The Farm Bill The Agricultural Improvement Act of 2018 (the Farm Bill) made cannabis-derived products such as industrial hemp and CBD (cannabidiol) legal at the federal level as long as it did not exceed 0.3% THC (tetrahydrocannabinol).  Cannabis products below the...