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Interest Deduction

Back to back loans & interest deductibility

January 9, 2020

When a business borrows money to earn taxable income, the interest cost will be tax deductible. The key test is the “use” of the borrowed money, rather than the purpose of borrowing. There must be a clear nexus between the interest incurred and the production of taxable ...

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Interest Deduction

Back to back loans & interest deductibility

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