July highlights from The MWE Advisor: there’s a new limit on deductions for business interest expense and provisions of the new law that that may be relevant if you’re hitting milestones like marriage, new kids, divorce and new homes.
New Law, New Limit on Deductions for Business Interest Expense
Did you know that the Tax Cuts and Jobs Act (TCJA) imposes a new limitation on business interest expense deductions? Fortunately, many businesses won’t be affected by the change, based on their size or the nature of their operations. Here are the basics on how this unfavorable change works, along with a list of businesses that are exempt from the new limitation.
Effects of the Tax Law Vary Based on Major Life Events
What stage of life are you in? The Tax Cuts and Jobs Act affects everyone a little differently, depending on their specific circumstances. Here are provisions of the law that may be relevant if you are at various milestones, including marriage, new kids, divorce, new homes, death — and even business start-ups.