Search results
Results from the WOW.Com Content Network
In September, buyers paid an average interest rate of 7.1% on new cars and 11.2% on used cars, according to car research company Edmunds. Trump said the tax cut "will stimulate massive domestic ...
The latest tax policies add to Trump's other proposed breaks -- including to end levies on tips, Social Security and overtime payments. ... we will make interest on car loans fully tax deductible ...
The 1986 Act limited interest expense deductibility to mortgage interest, as well as interest on home equity loans. Car loans: You can get a car with a bad credit score, but it could cost $10,000 more
The proposal to make interest on car loans tax deductible is intended to help buyers struggling with the increase in car prices. Since inflation took off in early 2021, the average price of a new car has jumped nearly 18%, though that has fallen compared with a year ago. Used car prices are up 13%.
Former President Donald Trump unveiled yet another set of targeted tax break proposals on Thursday, doling out more promises of relief as Election Day draws ever closer.
In a winding speech that lasted almost two hours before the Detroit Economic Club, former President Donald Trump said he wants to make interest on auto loans fully tax deductible. "That's going to ...
For tax year 2024, the standard deduction is $29,200 for married couples and $14,600 for individuals, meaning any taxpayer who hopes to take advantage of Trump's proposed car loan interest break ...
During Donald Trump’s speech Tuesday before a joint session of Congress, the president reiterated his promise to make interest on car loans tax deductible — but only if the vehicle is made in ...