To our ASAIO Members and Colleagues:
We want to make you aware of the impacts of last year’s changes to IRC Section 174, which since inception are already having an effect on grants from the National Science Foundation/SBIR Grant startup funding.
IRC Section 174 in its current form has an adverse impact on innovation, small businesses, and R&D. Whereas R&D costs were previously considered ordinary business expenses they were automatically deductible for tax purposes, they are no longer treated this way – they now require capitalization and amortization of such expenses over a period of time. Small businesses and individuals are seeing this have a chilling effect on their research and development efforts. Details regarding the new aspects of Section 174, can be found here:
ASAIO urges our members to reach out to your Senators and Washington representatives and let them know of your concerns regarding Section 174. Our community is the heart of innovation and the birth of new ideas, which require nurturing and support. The smallest idea can become the greatest innovation – please join us in raising awareness of this and in helping support the incubator ideas of our entire community.
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A Premier Society that brings together the interests and talents of physicians, scientists, engineers, industry and entrepreneurs dedicated to the continually evolving field of artificial organs. ASAIO has approximately 625 Members. The Membership is a unique group of specialists from 30 different countries with diversified backgrounds in artificial organ technology. Click the link below to learn more about our Membership options! Learn More.