The fine print on this car tax break has more speed bumps than drivers might expect.

The policy, signed into law in July 2025 in the One Big Beautiful Bill Act, comes with significant eligibility restrictions and conditions.

To qualify for the full deduction, your taxable income can’t be more than $100,000 if you’re a single filer or $200,000 if you’re married filing a joint return. Single filers who earn more than ...

Buyers of new vehicles assembled in the U.S. could boost their tax refunds by hundreds of dollars through a new tax deduction ...

Learn how you can deduct up to $10,000 of car loan interest payments. This guide covers eligibility established by the “One Big Beautiful Bill.” ...

The new Schedule 1-A and updated instructions enable taxpayers to claim the new tax breaks for tips, overtime, car loans and ...

This new deduction applies to 2025 through 2028 federal income tax returns. To qualify for the deduction, the interest must ...

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 ...

New deduction allows taxpayers to deduct up to $10,000 on interest they paid to buy a new American-made vehicle in 2025.

A for tax year 2025 tied to the “One, Big, Beautiful Bill,” offering deductions for tips, overtime pay, car loan inte ...

The days are getting longer and W-2s are blooming, which can only mean one thing – the U.S. tax season is here. Many Americans may receive a bigger tax refund than in previous years as a result of ...

The IRS will allow up to $10,000 in car loan interest deduction starting with 2026 tax filings for the 2025 tax year. This new federal tax break applies to qualifying new vehicles purchased after ...