As part of the Tax Cuts and Jobs Act, Congress limited the amount of net interest a business could deduct against its taxable income to 30 percent of adjusted taxable income. From 2018 to 2021, ...
Some U.S. companies face reduced cash flows and higher tax bills this year as they are hit by a double whammy: Federal Reserve interest-rate hikes and a tax-law change on deducting interest expenses.
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