So, for instance, if you have $1,000 in mortgage interest and your tax rate is 24%, your tax shield will be $240. You can deduct up to $750,000 of home mortgage interest in 2024. In 2025, this ...

Anyone in the market for a car will soon be able to write off fees for their purchase as a tax exemption. The Senate ...

In most cases, personal loan interest is not tax deductible. This is because you can't deduct personal expenses on your income taxes, Babener says.

The government stopped allowing a tax deduction for credit card interest with the Tax Reform Act of 1986. Interest on student loans, mortgages, home equity loans and business expenses are still ...

The interest you pay on a business loan is tax-deductible if you meet specific criteria defined by the IRS. Here's what you need to know about these criteria.