Interest payments on debt are a tax-deductible expense for households, but not for businesses.

Name: Interest payments on debt are a tax-deductible expense for households, but not for businesses.
Brand: Quizplus
Rating: 4.9 (32 reviews)

Question

Quizplus · Accepted Answer

Interest payments on debt are generally tax-deductible for businesses, allowing them to reduce their taxable income. For most households, however, interest deductions are limited to specific types of debt, such as mortgage interest.

Interest Payments on Debt Are a Tax-Deductible Expense for Households