“No tax on overtime” is a bit misleading. What actually changed is a new overtime deduction. If you earn time and a half, the extra half is considered overtime premium and can be deducted, up to $12,500. The deduction phases out at $150,000 of adjusted gross income for single filers and $300,000 for joint filers. This is a temporary provision starting in tax year 2025 and expiring after 2028. DM us for more info or call (305) 819-3675. | Smaart Company - Accounting, Tax, & Insurance
0:44
“No tax on overtime” is a bit misleading. What actually changed is a new overtime deduction. If you earn time and a half, the extra half is considered overtime premium and can be deducted, up to $12,500. The deduction phases out at $150,000 of adjusted gross income for single filers and $300,000 for joint filers. This is a temporary provision starting in tax year 2025 and expiring after 2028. DM us for more info or call (305) 819-3675. | Smaart Company - Accounting, Tax, & Insurance
184 views2 months ago
FacebookSmaart Company - Accounting, Tax, & Insurance
As millions claim Trump's 'no tax on overtime' deduction, filers risk mistakes, experts say
As millions claim Trump's 'no tax on overtime' deduction, filers risk mistakes, experts say
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MSNKate Dore,CFP®,EA
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No overtime means NO OVERTIME 😡 #comedy #skit #work #stunt #movie #scene #noovertime #fyp #fall #instagood #instagram #reels #reelsinstagram | Anton Fomenko
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No overtime means NO OVERTIME 😡 #comedy #skit #work #stunt #movie #scene #noovertime #fyp #fall #instagood #instagram #reels #reelsinstagram | Anton Fomenko
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No tax on overtime doesn’t mean all overtime
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The 2025 overtime tax deduction explained:⁠ ⁠ The Perk: Deduct up to $12,500 (single) or $25,000 (joint) of overtime pay.⁠ ⁠ The Catch: It only applies to the overtime portion of your pay, not your regular hourly wages.⁠ ⁠ The Result: A potentially bigger tax refund.⁠ ⁠ If you’re wondering how does the overtime tax credit work, the answer is: it’s actually a deduction that lowers your taxable income. How to file no tax on overtime is easy—just let TurboTax handle the math so you can focus on lit
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Overtime in 2025 hits different. The new law created a “No Tax on Overtime” deduction — and most people are going to misunderstand it and miss money. This video explains: ✅ what counts as “qualified overtime” ✅ why your paycheck may still show withholding ✅ how this shows up at filing time Want us to review your numbers and make sure you’re maximizing it? Book your Tax Strategy Call — link in bio. #taxstrategy #overtime #paycheck #refundseason #taxplanning
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There’s been a lot of confusion about the overtime deduction, so let me make this simple. The deduction only applies to the premium portion of overtime pay — not your entire paycheck. And it only applies if your overtime meets federal overtime rules. Instead of guessing or doing messy math, I use a calculator that breaks it down for you based on your actual pay, overtime hours, and rates — so you know what actually qualifies. If your employer hasn’t calculated it correctly or you just want to do
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