The 2017 tax law comes back to haunt startups
Illustration: Tiffany Herring/Axios The Tax Cuts and Jobs Act of 2017 is impacting some startups’ tax bills, thanks to a provision that changes how R&D costs are deducted. Why it matters: Profits are back in vogue for startups, but it also means some are getting hit with unsustainable tax bills. Catch up quick: The TCJA amended the IRS Section 174, requiring that businesses amortize R&D costs over five years (15 if overseas) instead of deducting them upfront....