Town Hall: Updates Regarding The Amortization of 174 Expenses And Strategies To Support Your Clients

Join Source Advisors in this town hall discussion on recent Section 174 updates.
Stay informed and prepare for the extended due date that is coming up in a few months.

May 23, 2023

11:00AM – 12:00PM CST / 12:00PM – 1:00PM EST

After registering, you will receive a confirmation email containing information about joining the webinar.

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Course Description:

As the extended due date approaches, it is essential for us to stay informed on the latest developments and conversations taking place regarding Section 174. This course aims to provide insight into changes and equip CPAs with the knowledge and strategies needed to effectively guide and support their clients through the complexities of Section 174 expenses.

Participants will gain an understanding of the current landscape, legislative updates, and best practices for advising clients on navigating the amortization of 174 expenses.

This course introduces practitioners to the amortization of research & experimental costs for federal income tax purposes. The relationship of expense amortization to the research tax credit and other cost capitalization/tracking rules will be developed. Other TCJA changes to research-related provisions of the Code will be discussed.

Learning Objectives:

After this course, the practitioner will have a high-level familiarity with:
(a) R&E Expense Amortization
(b) Impact of the Amortization on the Research Credit
(c) Impact of R&E Expense Amortization on the Software Industry.

Prerequisites: At least two years preparing intermediately complex tax returns.


The Speakers:

Brian Coddington

Senior Director of Tax Accounting Methods | Source Advisors

Brian Coddington provides compliance, consultation, and audit representation services in the areas of tax accounting methods and credits. Mr. Coddington has represented taxpayers before the Internal Revenue Service in matters involving LIFO inventory methods, Uniform Capitalization (“UNICAP”), cost segregation, and research credit claims. He has represented clients before the I.R.S. National Office in numerous Accounting Method Changes. Mr. Coddington began his career at Source Advisors where he oversaw all tax technical research and provided technical support services, including audit representation, to all tax offerings. He then worked at a Big 4 firm in a national projects group that specialized in Federal inventory tax matters. In 2011 he became sole practitioner advising in the areas of tax accounting methods, research credit, and fixed asset issues. 

Jim Foster, J.D.

Director of Tax Controversy | Source Advisors

Jim has been practicing in the general area of taxation and tax law for fifteen years. In that time, he has produced numerous successful tax credit cases for his corporate clients. Further, he has had successful tax audits that range from IRS audits and appeals to state-level tax audits. Prior to joining Source Advisors, Jim worked at two national consulting firms that operated in niche tax incentives. While in law school, Jim worked at a public accounting office where he helped the firm advance in and maintain double-digit growth. Jim received his Bachelor of Science in Political Science from Texas A&M University and his Juris Doctorate from South Texas College of Law Houston. He is a licensed attorney in the State of Texas.

Michael Warady

Senior Strategic Director | Source Advisors

Michael Warady, CFP is a Regional Director at Source Advisors who has helped clients secure over $360 million in increased cash flow through incentive strategies such as the Research & Development Tax Credit, Inventory Tax Planning Strategies (LIFO), Cost Segregation and other negotiated and statutory incentive programs. Over the past 15 years, Michael’s clients have appreciated his consultative approach which has allowed them to realize significant increases in cash flow through various incentive opportunities. Michael is a Certified Financial Planner and holds Bachelor’s Degree in Economics from the University of Iowa.

Jordan Fazio

Director | Source Advisors

Jordan joined Source Advisors in 2015 and is a Director in the R&D Tax Credit Consulting department. His primary responsibilities include providing technical sales consulting to CPAs and companies looking for guidance on R&D tax credit potential and managing R&D tax credit projects. His experience includes eight years of market risk management, software development, and operations in OTC derivative markets. Jordan holds a Bachelors of Business Administration degree with a double major in Accounting and Finance from Grand Valley State University.

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