business interest deduction

business tax relief

The CARES Act Offers Tax Relief for Businesses

When it was signed into law in late March, the Coronavirus Aid, Relief and Economic Security (CARES) Act was the largest stimulus package in U.S. history. The law contains numerous provisions designed to help mitigate the economic impact of the novel coronavirus (COVID-19) pandemic, including welcome tax relief for businesses that is potentially relevant for…

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new law business interest rules

New Law Effect on Business Interest Rules

Business Interest Limitation Under the Tax Cuts and Jobs Act (TCJA), the deductibility of business interest expense used to be far simpler.  As detailed in this blog post, the TCJA now limits the ability of a business to deduct business interest expense if its average gross receipts over the previous three years were over $25…

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