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 ...

The Republicans' tax cut and spending package, dubbed the "big, beautiful bill," includes a tax deduction for car loan ...

President Donald Trump’s mega tax-and-spending cuts bill, signed into law last week, contains plenty of new tax provisions, ...

Mortgage interest tax deduction pros and cons to know. Below, Greene-Lewis, Leaman and Valdivia break down what makes this deduction valuable and where it falls short.

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.

For example, if you paid $10,000 in interest and your effective tax rate is 20%, that means you're only getting $2,000 worth of tax savings, while you're still paying an additional $8,000 more ...

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.