Phoenix Tax Services & Bookkeeping, Inc.

Running a business is hard enough without having to worry about the books.

I help business owners stay organized, compliant, and focused on growing their businesses by handling bookkeeping, payroll, sales tax, and tax preparation.

If you know someone who could use a dependable bookkeeper or tax professional, please send them my way.

Thank you to everyone who continues to support Phoenix Tax Service & Bookkeeping Inc. through referrals and shares. It truly means a lot. ❤️

We would like to wish you a happy and safe Fourth of July celebration.

Today, we honor and remember the brave men and women who made the ultimate sacrifice for our freedom. 🇺🇸

Their courage, service, and sacrifice will never be forgotten.

From all of us at Phoenix Tax Services & Bookkeeping Inc., we wish you a meaningful and peaceful Memorial Day.

Treasury, IRS Clarify New Car Loan Interest Tax Deduction

The Treasury and IRS issued guidance on a new tax break allowing taxpayers to deduct up to $10,000 a year in interest on car loans taken out after Dec. 31, 2024 for new, U.S.-assembled vehicles purchased for personal use. The deduction is available whether you itemize or take the standard deduction. The guidance clarifies which vehicles, loans, and taxpayers qualify, and outlines new reporting requirements for lenders to help taxpayers claim the deduction.

El Tesoro y el IRS aclaran la nueva deducción fiscal por intereses de préstamos para autos.

El Tesoro y el IRS emitieron lineamientos sobre un nuevo beneficio fiscal que permite deducir hasta $10,000 al año en intereses de préstamos para autos calificados comprados después del 31 de diciembre de 2024. La deducción aplica tanto para quienes detallan como para quienes toman la deducción estándar e incluye reglas de elegibilidad y requisitos de reporte para los prestamistas.

Treasury, IRS provide guidance on the new deduction for car loan interest under the One, Big, Beautiful Bill | Internal Revenue Service IR-2025-129, Dec. 31, 2025 — The Department of the Treasury and the Internal Revenue Service today provided guidance on the “No Tax on Car Loan Interest” provision enacted under the One, Big, Beautiful Bill.

Just a reminder!

https://www.irs.gov/newsroom/one-big-beautiful-bill-act-tax-deductions-for-working-americans-and-seniors

Grateful for our clients, proud of the year we’ve completed, and excited for what’s coming next.

Here’s to a positive finish to this year and a strong, successful 2026 ahead. Thank you for being part of our journey!