What is the interest expense tax deduction?

Answer Interest is a cost that you pay to borrow money. Depending on your purpose for borrowing the money, the Internal Revenue Service (IRS) may allow you to claim a tax deduction for your interest expen... Read More »

Top Q&A For: What is the interest expense tax deduction

Interest Coverage Ratio - can you offset interest income with interest expense?

What Is a Section 179 Expense Deduction?

A Section 179 expense deduction, which allows businesses to deduct the purchase price of certain equipment, reduces federal income tax liability. Instead of depreciating the purchase over time, bus... Read More »

What is the standard deduction amount for home mortgage interest?

No standard deduction exists specifically for home mortgage interest. Home mortgage interest is an itemized deduction that is subject to a marginal tax rate. This means if you have $1,000 in intere... Read More »

How to Calculate Interest Expense?

Interest expense is a major factor in business applications, because it directly lowers a company's profit and reduces the value of the cash assets. Individuals may also be concerned with interest ... Read More »