New Tip & Overtime Deductions—What’s That?
Explanation: Finally, federal tax relief for working folks whose pay isn’t salaried.
- Tip workers can deduct up to $25K (single) or $50K (joint)
- Overtime pay deduction: up to $12.5K (single) / $25K (joint)
- IRS will publish qualifying list and documentation rules by Oct 2, 2025
Practical tip: keep thorough pay stubs—especially if you’re tipped or clocked in overtime.
Trump’s Overtime Tax Proposal 2025: The Truth About Your Extra Earnings
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