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Full-Text Articles in Accounting
Five Types Of Interest Expense, Three Sets Of New Rules, Larry Witner, Tim Krumwiede
Five Types Of Interest Expense, Three Sets Of New Rules, Larry Witner, Tim Krumwiede
Accounting Department Faculty Journal Articles
Individual taxpayers are subject to different rules for deducting different types of interest expense. The five primary types of interest for individual taxpayers are student loan interest, qualified residence indebtedness interest, investment interest, business interest, and personal interest. The law known as the Tax Cuts and Jobs Act temporarily introduced new rules for years after 2017 for qualified residence indebtedness interest, investment interest, and business interest. For 2018 through 2025, the acquisition indebtedness limit on the qualified residence indebtedness deduction has been lowered to $750,000 for loans incurred after Dec. 15, 2017, and the separate deduction for home-equity indebtedness has …
Portfolio Liquidity And Share Turnover Of Closed-End Mutual Funds, Charles P. Cullinan, Xiaochuan Zheng, Elena Precourt
Portfolio Liquidity And Share Turnover Of Closed-End Mutual Funds, Charles P. Cullinan, Xiaochuan Zheng, Elena Precourt
Accounting Department Faculty Journal Articles
We examine the relationship between the liquidity of the portfolios of closed-end mutual funds and the share turnover of closed-end funds' shares. We find that the portfolio liquidity/share turnover relationship is contingent upon the nature of the funds' shareholders. For funds with mainly smaller shareholders, there is a negative relationship between portfolio liquidity and share turnover, suggesting that smaller investors are more likely to hold shares of these funds to avoid the transaction costs associated with trading. However, as more institutional investors hold fund shares, portfolio liquidity is positively associated with share turnover.