Tag Archive for: irs guidelines

Trump’s New Auto Loan Tax Break: Who Qualifies?

As higher car prices and elevated interest rates have driven up borrowing costs for millions of Americans, a new tax deduction signed into law may offer some relief for eligible buyers. Qualifying taxpayers can deduct interest paid on certain auto loans, potentially reducing their taxable income and lowering their federal tax bill.

Trump Accounts Aren’t Exactly ‘Tax-Free,’ As President Said. Here’s How They Work

Created under the 'Big Beautiful Bill', the accounts will function similarly to a traditional IRA once a child turns 18, according to guidance issued in December by the U.S. Department of the Treasury and the IRS.

IRS Warning: 7 Mistakes That’ll Mess Up Your Tax Returns

With just over a month left before Tax Day on April 15, the 2025 tax filing season is well underway. To make sure your return is processed smoothly, the IRS has issued a guide highlighting some of the most common mistakes you’ll want to avoid.

This Tax Move Could Get Wealthy Investors In Hot Water With The IRS

Left untouched by Washington lawmakers in the tax overhaul, conservation easement deductions can still run afoul of the IRS. CLICK ON THE HEADLINE FOR MORE

Is A 401k Loan Ever A Good Idea?

If you need to borrow money to improve a long-term financial situation, and the cost is better than any alternative loan options, a 401k loan may be a option to consider. But before you decide, CLICK ON THE HEADLINE FOR A FEW THINGS YOU NEED TO KNOW