Less taxing: Thought Leadership from N&Co

New Auto Loan Interest Deduction Plus Other Major OBBBA Tax Changes

New Auto Loan Interest Deduction Plus Other Major OBBBA Tax Changes

If you’ve been thinking about buying a new car or live in a high-tax state, there’s major tax relief coming your way through the One Big Beautiful Bill Act. This comprehensive law creates new deductions for auto loan interest, increases standard deduction amounts, and temporarily raises the SALT deduction cap from $10,000 to $40,000—but these benefits won’t last forever.

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About Nichols & Company CPAs

Our firm, based in Westerville, Ohio, has been providing vital accounting and tax services to individuals and small businesses for more than 30 years.
Our BizForward program—cultivated through our long-standing tradition of service, technical expertise, and forward-thinking solutions—was developed to support small and medium-sized business owners in strengthening and growing their business, from inception through retirement.