The Tax Cut and Jobs Act introduced a new rule limiting a businesses ability to deduct interest expense, which can have a significant impact in the senior living area as facilities often are acquired or built using debt.    Businesses will now only be able to deduct in a tax year interest expense up to 30% of their adjusted taxable income.  Fortunately, small businesses (less than $25 million in annual gross receipts) and real estate businesses can elect out of this treatment, which may benefit many senior living facilities held in a Propco structure.   I recently wrote an article that explained the new limitation in more detail, which can be found here.