Why tax reform could mean bigger bills for businesses
Larger-than-expected tax bills could be coming for many businesses due to IRS guidance on deductions for interest expenses and qualified business income earned from pass-through entities. How is your business affected? Read more at Entrepreneur.

Meanwhile, there are many areas where accounting departments are struggling against the clock to interpret the meaning and implications as best they can. One cornerstone of the TCJA that has become significantly clearer is the limit on interest-expense deductions that companies can take. Meant as a way to offset the steep reduction in the corporate tax rate, the law stipulates that companies can only deduct interest expenses up to 30 percent of their tax-basis earnings before interest, depreciation and amortization.