Let $R$ be a commutative ring with unit, $R[[t]]$ the ring of formal power series over $R$ and $R((t))$ the ring of formal Laurent series of $R$.
It is easy to see (and well known) that the group of units $R[[t]]^{\times}$ equals $R^{\times}+tR[[t]]$. On the other hand, the group of units $R((t))^{\times }$ is a less familiar object. In this paper (page 7 example 2.9) it is stated without proof that
$$ R((t))^\times = \{\sum a_n t^n \mid \exists n_0 \in \mathbb{N}, a_{n_0}\in R^\times, a_n \mbox{ nilpotent for } n<n_0 \} $$
While it is clear that all the elements on the RHS are units, I don't see why all units are of this form. Actually, it seems to me just wrong. Over $R=R_1 \times R_2$ we have
$$ ((1,0)\cdot 1+(0,1)\cdot t)((0,1)\cdot t^{-1}+(1,0)\cdot 1)=1 $$
Which seems to be a counter example.
Question 1: Is this indeed wrong, or am I missing something? If it is correct, how to prove it? If not, How can one describe explicitly $R((t))^\times?$
Right after that, there is a claim about $R((t))^{\times}/R[[t]]^\times$, but it also seems incorrect or at least I don't see why it is true.
Question 2: Is there a nice description of the group $R((t))^{\times}/R[[t]]^\times$?