(Full Outline:  INVENTION EUTHANASIA: The 2017 Tax Bill)

Published 12/17/2017 Update 01/20/2024
By Curtis L. Harrington

It is 2024, and aspects of TCJA have been depressingly catastrophic:

(1) Inventors inventions are treated the same as the poorest child in the stable, namely copyright.

(2) To make matters worse, R&D are now capitalized.  Moreover, improved real estate floorspace dedicated to R&D is sought to be added onto money spent on experimental development and salaries.  I'm hearing that IRS wants a portion of the mortgage payments, but will also press for payments for land improvements already fully depreciated.

(3) Expect taxpayers to strain to characterize acts taken on new or improved products to be characterized in a slight way that will enable deduction, rather than as an original research for a brand new product.

(4) TCJA set the tone to "make money now," and I'm not seeing nearly as many new products as in the past. I see too many digital "cute" capabilities, like turning on home lighting while occupants are away, and not enough new products that create large fundamental money efficiency impact.




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