From our friends at Tidwell Group:
The Tax Cut and Jobs Act (TCJA)
The reduction in corporates rates coupled with a broadening of the tax base is a major shift in tax policy. While it may take several months to sort through the implications of the mid-term elections and policy changes from Congress, there is no doubt this piece of legislation will have a significant impact on 2018 tax planning and beyond.
| For the affordable housing industry, one of the more important changes brought about by the TCJA is the limitation on the amount of business interest that can be deducted by a taxpayer. Starting in 2018, businesses are only able to deduct business interest expense up to 30% of their taxable income. Fortunately, until 2022 there is a depreciation add back included in the calculation of the business interest limitation. |
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Published by Oklahoma Coalition for Affordable Housing
The vision of OCAH: That all Oklahomans have the opportunity to live in safe, healthy and affordable homes. Our Mission: To lead the movement to ensure that all residents of the state of Oklahoma flourish in safe, affordable homes and to help communities develop safe and affordable housing options for all of their residents. We reach our mission through advocacy, education and practical training to foster the production and maintenance of affordable housing throughout the state.
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