News & Events

Canadian cannabis companies can’t catch a break: Current challenges and potential solutions

Cannabis retailers in British Columbia breathed a sigh of relief when the union representing workers at the province’s only cannabis wholesaler paused its labor strike on August 31, 2022. The two-week strike completely halted the province’s cannabis supply chain, forcing many retailers to close their doors and send workers home. Other provinces have also experienced […]

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Mandatory Capitalization of Research & Development Expenses

May 2022 Tax Update

Despite lobbying by many Fortune 100 companies and strong bi-partisan support to retain the deductibility of research and development (R&D) costs, 2022 brings an unexpected change for companies in the manufacturing, technology, SaaS, and life sciences industries. Those companies with significant R&D costs, including software development costs, will now be subject to mandatory capitalization, for U.S. tax purposes, as an intangible asset. This can have a significant impact on their 2022 financial statements and cash flows, as they will no longer be allowed to deduct those expenses in the year incurred.


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