Before tax reform, there were not many limitations on a business's ability to deduct interest expense on their tax return. However, beginning in 2018, tax reform will significantly alter the ability to deduct business interest expense for a great many taxpayers.
Tax reform provides an opportunity for simplification and tax relief for "small" businesses. Under the Act, a small business is defined as a taxpayer with average gross receipts during the previous three tax years of $25,000,000 or less. The $25,000,000 limit will be indexed for years after 2018. So what are qualifying taxpayers eligible for?
Wednesday November 28 2018 | 7:00AM—11:30AM |
Hosted at the Detroit Athletic Club
In 2015, the PATH Act (Protecting Americans from Tax Hikes Act) was passed. Starting in 2016, the PATH Act was enacted which extended additional benefits to business owners.
Hosted at UHY LLP
Tuesday November 7 2017 | 7:00AM—9:30AM