Leveraging the R&D Tax Credit in 2024
The Tax Relief for American Families and Workers Act presents significant opportunities for businesses, particularly those involved in research and development (R&D), to enhance competitiveness and drive innovation. By allowing immediate deductions for R&D investments, restoring full expensing for critical assets, increasing write-off thresholds for small businesses, and addressing various business-related expenses, the act aims to stimulate economic growth and job creation.