MiBolsilloColombia on MSN
Overtime pay is now tax-deductible: Are you eligible for the new $12,500 break?
The OBBBA law created a new tax deduction for overtime pay. Find out if you're eligible, how much you can deduct, and how to report it on your 2025 return.
Young and the Invested on MSN
No tax on overtime – do you qualify?
"No Tax on Overtime" – Do You Qualify?
Preparing a 2025 tax return is likely to take more time, as workers who received tips or overtime pay in 2025 figure out what qualifies for new tax breaks. IRS gives some very specific examples in ...
Among other employment measures, July’s One Big Beautiful Bill Act gives FLSA non-exempt workers a limited ability to deduct overtime pay from their federal taxes, retroactive to July 1, 2025.
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