New federal tax law allows deductions on tips and overtime starting with 2025 taxes Workers earning under $150K can deduct up to $25K in tips, $12.5K in overtime Qualifying jobs may include servers, ...

New tax breaks on tip income and overtime pay go into effect this year. Event planners, hairdressers, handymen and Uber ...

Generally, the income tax credit (which reduces the actual income tax you pay) equals the amount of Social Security and Medicare taxes paid or incurred by your business on tips received by your ...

Millions of U.S. workers who earn tips and overtime pay may be eligible for a federal tax break when they file their 2025 income taxes next year. But which workers will qualify for the new deductions ...

The July law offers a new income tax deduction of up to $25,000 for certain workers—including chefs, tutors, and ...

The Senate side of the Capitol is seen in Washington, early Monday, June 30, 2025, as Republicans plan to begin a final push to advance President Donald Trump's big tax breaks and spending cuts ...

Millions of U.S. workers who earn tips and overtime pay may be eligible for a federal tax break when they file their 2025 income taxes next year. But which workers will qualify for the new deductions ...

Millions of U.S. workers who earn tips and overtime pay may be eligible for a federal tax break when they file their 2025 income taxes next year. But which workers will qualify for the new deductions ...