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An architecture or engineering firm can generally claim a Section 179D deduction allocated to it by a tax-exempt building owner and the federal research credit in the same tax year, including for work on the same project. The Section 179D deduction rests on the owner’s energy efficient property and a written allocation from that owner; […]

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Under section 174A(d)(3), any amount paid or incurred in connection with the development of any software is treated as a research or experimental expenditure. Domestic software development costs paid or incurred in tax years beginning after December 31, 2024 are therefore generally deductible in the year paid or incurred under section 174A(a), unless the taxpayer […]

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A cost segregation study finished before the return for the placed-in-service year is filed, by its original or extended due date, lets that return claim the results directly and make the elections that must be made on a timely filed return, such as electing out of bonus depreciation by class. If the return is already […]

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Beginning with the 2026 franchise tax report, a taxable entity that subtracts cost of goods sold (COGS) includes the depreciation reported on its federal return, bonus depreciation and section 179 amounts included, to the extent the assets are associated with and necessary for the production of goods. Earlier reports used the 2007 Internal Revenue Code, […]

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