This course discusses business interest deduction rules as it applies to business taxpayers, C corporations and pass-through entities. It also discusses the small business exemption and the classification of trades and businesses that are exempted. In addition, the application of the net operating loss rules is presented. This course introduces the changes brought about by the Tax Cuts and Jobs Act of 2017 (TCJA), proposed 2019 regulations, and final and proposed 2020 regulations. The changes introduced by the Coronavirus Aid, Relief, and Economic Security (CARES) Act for years 2019 and 2020 have been deleted from this edition and have been placed in the glossary for anyone interested in those provisions.