Dependable Bookkeeping and Tax LLC

I AM NOT AN ATTORNEY IN THE STATE OF NEVADA. I AM NOT AUTHORIZED TO GIVE LEGAL ADVICE OR LEGAL REPRESENTATION. I MAY NOT ACCEPT FEES FOR GIVING LEGAL ADVICE OR LEGAL REPRESENTATION.

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Deduction for Interest on Car Loans

The One Big Beautiful Bill allows for the deduction of interest on NEW car purchases.
* The final assembly of the vehicle must have occurred in the United States.
* The vehicle must have been purchased for personal use.
* There is a $10,000 cap on the interest.
* This new tax benefit applies to both taxpayers who take the standard deduction and those who itemize deductions.

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