Elite Business Consultants, LLC

09/05/2025

Transform your business vision into reality—visit us online at elitebusinessconsults.com and discover how our expert consulting services can guide you towards success. Don't let your ideas remain just ideas; take action today and start building the future you envision.

08/01/2025

IRS updates FAQs to add auto loan interest deduction guidance (07-28-25)

The IRS has updated its FAQs on the One Big, Beautiful Bill Act’s (OBBBA’s) new deduction for interest paid on auto loans. (FS-2025-03)

The new auto loan interest deduction is available to individual taxpayers for personal use vehicles purchased after December 31, 2024. (OBBBA §70203; IRC §§63(b)(7), 163(h)(4))

The deduction is available for the 2025 through 2028 taxable years only. Among other requirements, the loan must be for the acquisition of a vehicle with a final assembly point in the United States.

The IRS’s updated FAQs provide that taxpayers can rely on either:

• The window sticker of a new vehicle, which must identify the vehicle’s final point of assembly; or
• The vehicle’s plant of manufacture as reported on the vehicle identification number (VIN).

Taxpayers can look up a vehicle’s plant of manufacture using its VIN number at the United States Department of Transportation website:

https://go.spidell.com/e/837113/decoder/61jz2r/2687171314/h/PQEhf2uHoj0Qcv1RP7UNGP979JyOzaz4rr8Umibb0M4

08/01/2025

Success is not just a destination; it's a journey that requires the right guidance. Elevate your business potential by exploring our comprehensive services online now at elitebusinessconsults.com.

08/01/2025

Innovative solutions tailored to your business needs are just a click away. Visit our website to explore how we can help you achieve your goals and drive success today.

08/01/2025

Transforming futures is what we do best. Explore our comprehensive services online and take the first step towards achieving your goals today at elitebusinessconsults.com.

02/09/2021

Issue Number: COVID Tax Tip 2021-16The first step of tax preparation is gathering records.

IRS.gov.

The first step of tax preparation is gathering records

12/07/2020

Filing 2020 Income Taxes

Issue Number: IR-2020-256 Inside This Issue 📷 WASHINGTON – The Internal Revenue Service today encouraged taxpayers to take necessary actions this fall to help them file their federal tax returns timely and accurately...

01/21/2020

Early Bird Special...Book A Tax Service(s) On Elite Business Consultants, LLC Website By February 5, 2021 And Receive $25 Off. www.elitebusinessconsults.com

Get started with a complimentary consultation today!

12/25/2019