What the July 6th R&D Deadline Means for CPA Firms

The July 6 Section 174 deadline is approaching fast, and for CPA firms, the decisions tied to Section 174A could have major tax planning implications.In this episode of Let’s Talk Tax, host Dave McGuire is joined by David Seibel, EA , to break down what this deadline means for eligible small taxpayers and how CPAs should be advising clients now.They cover the small taxpayer election for retroactively expensing 2022–2024 Section 174 costs, why the July 6 deadline does not override normal statute dates, and the alternative options available on the 2025 return—including one-year or two-year accelerated deductions or continuing amortization.The conversation also explores renewed attention around Section 41 R&D credits, stricter IRS documentation requirements for amended claims, expanded Form 6765 reporting (including Section G), and the return of the Section 280C reduced-credit election.With major deduction decisions, state conformity questions, and planning opportunities all on the table, this episode is a must-listen for CPA firms navigating post-tax season strategy.As always, check us out on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, or ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. For today's show notes and more, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠mcguiresponsel.com/letstalktaxpodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.Thanks for listening. We will see you next Saturday, May 9th, for the next Let's Talk Tax episode!