Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...

Drivers are looking at a long list of rules if they're hoping to claim a new tax deduction for car loan interest on 2025 ...

Car loan interest can be tax deductible, but only in specific situations. If you’re a business owner or self-employed and use ...

Beginning on 2025 tax returns, new car buyers might qualify for an above-the-line deduction of up to $10,000 in car loan interest in a year. Taxpayers will not be able to deduct interest on loans ...

The basics of the car loan interest deduction is that it must be a new vehicle assembled in the United States, with the loan ...