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Category Archives: Cooperatives

Business Interest Deductibility – Seth Gilson, Partner, CPA

The 2017 Tax Cut and Jobs Act (TCJA) amended the rules for deducting business interest expense (BIE). In general, under the previous law a business could deduct any amounts paid or ac­crued for interest during the tax year. The TCJA added new limits and requires additional compu­tations in determining the amount of deductible business interest...

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