2026 Tax Changes

The One Big Beautiful Bill Act (OBBBA) brings many changes for the 2025 tax year.  Here are a very few of those changes:

For tax years 2025 through 2028, eligible taxpayers can deduct up to $10,000 per year in interest paid on qualifying new vehicle loans. This deduction is available whether you itemize or not.

 New $6,000.00 bonus deduction for qualifying seniors 65 and older.

Child tax credit increased to $2,000.00 per qualifying child.

These are just a few of the items in this new 5,000 – page bill.  If you have any questions about this bill or anything else, please contact the office to set up a time to talk with Randy.