New Tax Breaks for Car Loan Interest, Tips & Overtime — What You Need to Know Big changes are here for the upcoming tax seasons: under the new tax law (One Big Beautiful Bill Act) you’ll have two brand‑new deductions: Car Loan Interest Deduction : If you take out a loan after December 31, 2024 to buy a new personal vehicle that meets the eligibility rules (e.g., final assembly in the U.S.), you may now deduct up to $10,000 per year in interest for tax years 2025‑2028. Tip
What the Big Beautiful Bill Means for Businesses and Individuals In the spring of 2025, Congress passed a landmark piece of legislation known as the One Big Beautiful Bill Act . It represents a sweeping combination of tax changes, business incentives and policy shifts — and as a CPA firm advising businesses and individuals alike, it's critical to understand how this may affect you. Key Tax & Business Highlights Here are some of the provisions most relevant to businesses and
