We are excited to announce Version 2.1.78, introducing a powerful new tax deduction strategy from the One Big Beautiful Bill and important security enhancements to protect your firm and client data.
New Features
No Tax on Car Loan Interest Strategy
We're pleased to introduce the No Tax on Car Loan Interest Strategy, a new deduction opportunity from the One Big Beautiful Bill legislation. This strategy allows taxpayers to claim deductions on qualifying vehicle purchases:
- Vehicle Requirements:Purchase must be a new vehicle with final assembly in the United States
- Loan Timing:Loan origination date must be after December 31st, 2024
- Deduction Limit:Interest paid on qualifying loans can be claimed as a deduction up to $10,000
- Streamlined Process:Track and calculate your eligible interest deductions directly within the platform
This new strategy provides significant savings opportunities for clients making qualifying vehicle purchases under the new legislation.
Security Enhancements
We've strengthened platform security with two important new features:
- OTP Verification:Enhanced account security now requires email verification when users change their email address or password, adding an extra layer of protection against unauthorized access.
- Firm Complex Password Requirements:Firms can now require complex passwords for all users invited to their workspace, ensuring stronger account security across your organization. This feature is available upon request - contact our support team to enable it for your firm.
We hope these updates enhance both your tax planning capabilities and platform security. As always, we are committed to continuously improving your experience and appreciate your feedback. Stay tuned for more updates!