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#income-limits
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fromwww.npr.org
2 months agoThis tax season, there's a new deduction for interest on car loans
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 Beautiful Bill Act, which also removed taxes on tips and overtime for qualifying workers, and relevant to new car shoppers eliminated a tax credit for buying electric vehicles.
Cars
fromBusiness Insider
6 months agoScott Bessent says Trump's proposed $2,000 tariff checks could need Congress's OK
"We will see. We need legislation for that," Treasury Secretary Scott Bessent said Sunday in an interview on Fox News when asked if Trump was going to send the tariff revenue-sharing checks soon. He said the checks would go to "working families" and that an income limit would be set. He didn't describe them as a sure thing, but said: "Those could go out."
US politics
fromFast Company
10 months agoThere's a new tax deduction for car loans in Trump's 'big, beautiful bill.' Here's who's eligible-and what's the catch
The deduction is available to those with "qualified passenger vehicles" who fall under certain income limits. For single filers with an adjusted gross income up to $100,000, the deductions on vehicle loans are capped at $10,000 in interest each year.
US politics
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