Tag Archive: "Business Interest Expense"
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Deducting Business Interest in 2022
In December, we shared that the business interest expense limitation was coming back in 2022. Colleagues Olga Zarney, Rod Mauszycki and Mike Smith recently authored an excellent article titled “Deducting Business Interest: The Quandary for 2022.” Portions of their article, which go deeper than our blog post from December, are included below. You can read […]
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Big Change to Business Interest Expense Limitation Coming in 2022
In 2017, the Tax Cuts and Jobs Act significantly changed IRC Section 163(j), greatly expanding its applicability. Modifications and clarifications to IRC Section 163(j) occurred through proposed and final regulations in the subsequent years. The Section 163(j) limitation applies to all business interest payments for taxpayers with gross receipts in excess of $26 million. Business […]