A new tax deduction allows buyers to claim up to $10,000 a year on interest paid for new, American-made cars. The deduction applies to qualifying vehicles purchased between Jan. 1, 2025, and Dec. 31, ...
A new tax break is available this filing season for taxpayers who have car loans on vehicles that meet certain specifications. The One Big Beautiful Bill Act (OBBBA), which was passed through Congress ...
The “No Tax on Car Loan Interest” provision allows anyone who’s purchased a car from 2025 on to deduct the interest paid on the loan when they file their taxes. There are a few stipulations before you ...
The federal clean vehicle tax credit was set to expire at the end of 2032, but the mega-tax bill signed into law in July pushed that expiration deadline up to Sept. 30 Not everyone will qualify for ...
If you're one of the millions of Americans who purchased a new car last year, you could benefit from a new tax break that allows taxpayers to deduct interest paid on their auto loans. The car loan tax ...
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