02/16/2026
Did you finance a NEW vehicle in 2025? You may qualify for a new federal tax deduction that could lower your taxable income! 🙌🏽
💰 You can deduct up to $10,000 of interest paid on your car loan.
Here’s what we know so far:
✅ Vehicle must be new (not used)
✅ Must be assembled in the U.S.
✅ Loan must be for personal use
✅ Applies to tax years 2025–2028
This isn’t a credit — it’s a deduction, which means it reduces your taxable income (and potentially your tax bill 👏🏽).
If you bought a car this year, make sure you:
📌 Keep your loan documents
📌 Bring everything to your tax appointment
Don’t leave money on the table!
📞 Book with FTB Tax so we can review your situation and make sure you get every dollar you qualify for.