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Traditionally in the U.S., interest paid on corporate debt has reduced the taxable income for...

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Accounting

Traditionally in the U.S., interest paid on corporate debt has reduced the taxable income for the firm. However, with the Tax Cut and Jobs Act (TCJA) of 2017, the allowance for this tax deduction has changed. Research this fact and provide a summary of considerations. Provide an active link to your reference (s). What impact did the Tax Cut and Jobs Act (TCJA) of 2017 have on the capital structure of large, publicly traded firms? Small, privately held corporations?

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