Executives who previously determined that private jet ownership was unaffordable may now be able to justify this purchase thanks to the Tax Cuts and Jobs Act (TCJA) signed into law in December 2017. Among other things, like more generous expensing provisions in general (see our 2018 Tax Code Review), the new tax law now allows … Continued
Owners of pass-through businesses get a break – but it’s complicated. Beginning in 2018, a new 20% deduction for qualified business income will be available. This will effectively lower the top tax rate of small business owners from the highest new personal income tax rate of 37% to about 30%. This was a partial concession … Continued
The new tax law puts a cap on the amount of debt interest cost most companies can deduct. Interest payments have long been deductible for companies, but the new tax law now limits such deductibility to 30% of the company’s EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization). This will effectively reduce the incentive for … Continued