The Tax Professionals Blog — OBBBA
OBBBA No Tax on Overtime
Posted by Lee Reams Sr., BSME, EA on
The OBBBA allows eligible taxpayers to deduct qualified overtime pay from 2025–2028. Learn the limits, MAGI phaseouts, and rules to maximize this above-the-line deduction.
OBBBA No Tax on Tips
Posted by Lee Reams Sr., BSME, EA on
The OBBBA now offers a deduction for qualified tips up to $25K, with AGI limits, reporting rules, and exclusions. See if you or your clients qualify from 2025–2028.