The One Big Beautiful Bill Act created a temporary car loan interest deduction for American-made vehicles through 2028, which ...

Expenses like a home office, car, insurance, and even your education bills could get you a big tax break Katharine Paljug is a financial writer and editor with over a decade of industry experience.

Taxpayers who purchased a new vehicle in 2025 may qualify for a new deduction on their taxes — even if they're not itemizing.

There are rules to a new tax deduction as to which vehicles qualify to save buyers on the interest paid on loans. Here are some vehicles that qualify.

Section 179 covers tangible property such as machinery, equipment, computers, and certain off-the-shelf software “acquired by purchase” for use in the active conduct of your trade or business.

Many small business owners are pleased to learn that a vehicle they purchased for use in their company may qualify for a Section 179 tax deduction. Carefully using Section 179 vehicles can bring tax ...

The basics of the car loan interest deduction is that it must be a new vehicle assembled in the United States, with the loan being a first lien on the vehicle. The deduction has an annual limit of $10 ...

The Treasury Department is implementing President Donald Trump’s No Tax on Car Loan Interest policy, a measure designed to lower costs for American families, Treasury Secretary Scott Bessent said ...

(CNN) — President Donald Trump’s mega tax-and-spending cuts bill, signed into law last week, contains plenty of new tax provisions, the contours of which Americans are still digesting. CNN — (CNN) — ...

If you took out a car loan last year, you might be able to write off up to $10,000 of interest on the loan when you file your tax return this year.

One of the ways to reduce your liability this tax year is to decrease your taxable income. And the best way to do this is by taking advantage of tax ...