ARTICLES

With the OBBBA, certain taxpayers can now deduct interest on car loans for new qualifying vehicles purchased after 2024, potentially saving up to $10,000 per year. The deduction comes with income limitations and specific vehicle eligibility criteria, including final assembly in the U.S. and reporting requirements. Not all buyers or vehicles qualify, making it essential to consult a tax professional for guidance.

There are updates to the IRS reporting rules -- raising the 1099 threshold from $600 to $2,000 starting in 2026. This change reduces paperwork, lowers compliance burdens, and provides relief for small businesses while maintaining accurate income reporting requirements.

Teachers often spend their own money on classroom supplies, and tax law offers ways to ease that burden. Eligible educators can currently deduct up to $300 in unreimbursed expenses as an above-the-line deduction. Beginning in 2026, the OBBBA introduces a new itemized deduction with broader eligibility and no dollar limit. Careful tracking of expenses can help maximize these valuable tax breaks.

Discover the new tax advantages of Qualified Small Business (QSB) stock under the OBBBA. Learn about updated asset limits, gain exclusions, and rollover opportunities to maximize your investment strategy.

Learn how the OBBBA’s new provisions for 2025–2028 affect estimated tax payments, deductions, and credits — plus strategies to optimize your tax planning under the latest regulations.

Learn how the alternative minimum tax (AMT) works, recent changes under the OBBBA, and what risk factors could trigger AMT liability in 2026 and beyond.