News

'No tax on overtime': When it will work for you and when you'll still pay taxes
No tax on overtime' is a new break that begins in 2025, but a surprising twist will have many paying more taxes than they ...
Overtime pay tax break: What the new IRS rules really mean
No tax on overtime' is a new break that begins in 2025, but a surprising twist will have many paying more taxes than they imagined with a deduction.
MiBolsilloColombia on MSN14h
Tax bonus vs. tax credit vs. deduction: What each means for your refund
Understanding tax bonuses, credits, and deductions can help you maximize your refund. Learn how each affects your bottom line ...
JD Supra2d
Important New Reporting Rules for Overtime Pay and Tipped Income
With the passage of the new federal tax bill on July 4, 2025, unofficially referred to as the One Big Beautiful Bill Act (OBBBA), employers ...
The Journal Record1d
Curtis: OBBB’s new tax deductions on tips and overtime impact employees and employers
Earlier this month, President Trump signed the “One Big Beautiful Bill” (OBBB) into law, which contains two key provisions ...
Who Gets ‘No Tax on Overtime’? It’s Messy.
Under the law, the only overtime compensation that qualifies for the new deduction is the extra wages—the “half” of “time and ...
Kiplinger7d
New GOP Car Loan Tax Deduction: Which Vehicles and Buyers Qualify
Trump and the GOP are now offering a tax deduction for auto loan interest. How will it work?
Explícame on MSN6d
4 IRS Changes to Your Taxes Already in Effect by OBBBA
Several impactful tax changes are already in force for 2025 under the One Big Beautiful Bill. Here's what taxpayers need to ...
Dayton Daily News2d
Big Beautiful Bill: Tip and overtime earners to receive tax break under federal bill provision
Employees who earn tips and overtime in 2025 may be eligible for a tax break when they file their federal taxes next year under the recent federal spending budget passed. The federal spending bill ...