The Republicans' signature tax cut and spending package – dubbed the "big, beautiful bill" – that was signed into law last week touts tax deductions on tips and overtime pay, and also includes a tax deduction of up to $10,000 for interest paid on the car loans of qualified vehicles.In order to qualify for the temporary income tax deduction, both the vehicles and the loans must satisfy a number of conditions. Qualified vehicles include cars, vans, minivans, SUVs, pickup trucks and motorcycles that weigh less than 14,000 pounds. They also must have at least two wheels, and must be purchased new,...

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