Sentences with phrase «business interest expense»

The deduction for business interest expenses is generally capped at 30 % of adjusted taxable income, among other requirements.

However, business interest expense remains deductible.

According to the IRS, business interest expense is «an amount charged for the use of money you borrowed for business activities.»

Meanwhile, it would scale back or reform numerous other tax breaks and deductions, including the mortgage interest deduction, the business interest expense deduction, the property tax deduction, and higher education tax benefits.

I am not a California resident, but the S - Corp does some business there and so I am filing form 540NR, but am unclear on how / where to record the «business interest expense» in the California state forms.

I am reporting interest on a loan used to purchase shares in an S - Corporation as «business interest expense» on federal form Schedule E (2012) as a Non-Passive loss, as described by the IRS here: