Is My Car Loan Interest Tax Deductible?
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Is My Car Loan Interest Tax Deductible?
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If you financed a new car in 2025 or 2026 you may be able to write off the interest payment on your car loan. But before you celebrate this newer federal income tax break, let two CPAs walk you through the fine print.
Host: Susan Spears, CPA, CEO of the Utah Association of CPAs Guest: Matt Gardner, CPA, Tax Director for CBIZ in Salt Lake City, Utah
About Your Host & Guest
Talk To Your CPA host Susan Speirs, CPA, is the CEO of the Utah Association of Certified Public Accountants. Susan brings decades of firm ownership experience to the podcast.
Matt Gardner, CPA, is the Tax Director in the CBIZ Salt Lake City office. He is a CPA and attorney with 30 years of experience in public accounting and industry. His background includes Big 4 firm experience, serving as CFO of a biopharmaceutical company, leading as the tax director for the North American division of a Fortune 100 transportation company, and providing tax advisory work associated with private equity.
Matt specializes in tax advisory, tax credits and incentives, and state and local tax. He helps businesses identify opportunities to save money while making complex tax issues easier to understand.