Extra work hours in the week can mean extra pay. Now, it can also mean a new tax benefit you can claim on your return come tax time. Starting Jan.
If an hourly employee works beyond 40 hours in a week, they are entitled to overtime pay. However, if that employee performs different roles at different pay rates, you may have to use a “blended rate ...
A new deduction allows workers to subtract part of their overtime wages from their 2025 taxable income, lowering some taxpayers' bills in April. However, workers will need to calculate their deduction ...