Interest is no longer tax deductible. President Trump finalized the income tax slice and task work on December 14, 2017.
Interest is no longer tax deductible. President Trump finalized the income tax slice and task work on December 14, 2017. That law eliminated the tax-deductible interest advantage on assets financial loans (both for latest and current money loans). In 2026 the law will revert back again to the prior restrictions which allowed interest income tax […]