Tax Breaks

No Tax on Car Loan Interest Under the New Law? Not Exactly

August 14th, 2025|Categories: Burns Firm, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, OBBBA, One Big Beautiful Bill 2025, Tax, tax accountant, Tax Advisor, Tax Breaks, Texas CPA, The Burns Firm|Tags: Car Loan Interest Taxable? Tax on Car Loans?, CPA, cpa near me, Dallas CPA, OBBBA, One Big Beautiful Bill Act, tax, tax advisor, Texas CPA, The Burns Firm, What Qualifies for the Car Loan Tax Deduction|

Under current federal income tax rules, so-called personal interest expense generally can’t be deducted. One big exception is qualified residence interest or home mortgage interest, which can be deducted, [...]

Tax Breaks in 2025 and How The One, Big, Beautiful Bill Could Change Them

June 10th, 2025|Categories: Accountant, Burns Firm, Child Tax Credit, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Electric Vehicle, Electric Vehicle Credits, Estate Tax, Gift Tax, One Big Beautiful Bill 2025, Tax, Tax Advisor, Tax Breaks, The Burns Firm|Tags: 2025 Tax Breaks, Auto Loan Interest, child tax credit, CPA, cpa near me, CTC, Dallas CPA, electric vehicles, Estate and Gift Tax Exemption, North Texas CPA, One Big Beautiful Bill, standard deduction, tax, tax advisor, tax breaks, Texas CPA, The Burns Firm|

The U.S. House of Representatives passed The One, Big, Beautiful Bill Act on May 22, 2025, introducing possible significant changes to individual tax provisions. While the bill is now being [...]

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