Bill BBB and Section 174

https://news.ycombinator.com/item?id=44339031
by graycat • 1 year ago
4 1 1 year ago

Looks like a solution is on the way to the tax problems of Internal Revenue Code (IRC) Section 174:

As at

     https://news.ycombinator.com/item?id=44226145
with
     Tell HN: Help restore the tax
     deduction for software dev in the US
     (Section 174)
is
     Companies building software in the US
     were hit hard a few years ago when
     the tax code stopped allowing
     deduction of software dev expenses.
     Now they have to be amortized over
     several years.
Now as at
     https://www.whitehouse.gov/wire/
on the BBB (Trump calls the "Big Beautiful Bill) is in part
     The bill also restores 100% immediate
     expensing, allowing businesses to
     write off investments, expansion, and
     modernization.
So, that provision may alleviate the effects and concerns of Section 174.

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