Cars are one of the most expensive items to own, both in terms of the initial investment we make in them and in the cost of ongoing maintenance. Fortunately, there are valid ways to offset these ...

New tax breaks for tips, overtime pay and car loans come with strict limits that could leave many Americans out this tax season.

Is your new car eligible for a massive tax deduction? Check your VIN and see how the OBBB provides relief for American ...

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 ...

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, ...

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 ...

There's a brand-new tax deduction in place this filing season: Taxpayers who bought a new car in 2025 can, in some cases, deduct interest on their auto loan. The deduction was created by the One Big ...