Comment by dpifke

Even worse: amortization under § 174 begins at the mid-point in the year in which the expense was incurred, so it's actually 1/10th salary expense in the first year (6/60 months).

I have a favor to ask HN: is there anyone going through this that would be willing to share a redacted version of their accounting change statement[0] required to comply with this law by Rev. Proc. 2023-11? It's not at all clear to me (not a CPA or tax lawyer, but normally perfectly capable of doing bookkeeping/accounting for my single-member LLC) how specific "(D) a description of the type of expenditures included as specified research or experimental expenditures" is supposed to be. I filed an extension today because I'm now second-guessing what I wrote; my Google-fu has thus far turned up zero examples of a CPA-blessed version of this statement. (Probably because one of the other statutory requirements is that it includes the taxpayer's identification number.)

[0] Rev. Proc 2023-11: https://www.irs.gov/pub/irs-drop/rp-23-11.pdf [PDF]