The Tax Cuts and Jobs Act (TCJA) of 2017 included a provision that requires businesses to capitalize and amortize research and experimentation (R&E) expenses under Section 174 over a period of five years (or 15 years for foreign research). This change went into effect in 2022, and businesses will have to plan for it in the first quarter of 2023 when filing their taxes for the previous year.

See how you can prepare for this change.