Created: Thursday, July 18, 2019
Update on the New Business Interest Expense Limitation
The Tax Cuts and Jobs Act (TCJA) imposes a new limitation on deductions for business interest expense. The IRS recently issued guidance in the form of proposed regulations. The business interest expense limitation is a permanent change for tax years that began in 2018. Thankfully, many businesses are unaffected. This article covers what you need to know.