Understanding the Research and Development Credit.

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    • Abstract:
      The activities treated as R&D in ASC 730 have many similarities with those covered by IRC sections 41 and 174, and thus the amount reported in the financial statements provides a starting point to identify R&D costs. The concept unit thoroughly explains various types of research and development costs under ASC 730 and how each type of cost relates to IRC sections 41 and 174. While the similarities between ASC 730, IRC section 41, and IRC section 174 far outweigh the differences, there are situations where ASC 730 includes some costs as R&D costs that do not qualify under either tax code section, and vice versa. This covers a multitude of contract costs, such as supplies, computer rental or lease costs, and contract costs for research performed in the United States. [Extracted from the article]
    • Abstract:
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