Payroll Tax Implications of New Tax Breaks on Tips and Overtime
Before the One Big Beautiful Bill Act (OBBBA), tip income and overtime income were fully taxable for federal income tax purposes. The new law changes that. Tip income deduction For 2025–2028, the OBBBA creates a new temporary federal income tax…
Teachers and Others Can Deduct Eligible Educator Expenses This Year – And More Next Year and Beyond
At back-to-school time, much of the focus is on the students returning to the classroom — and on their parents buying them school supplies, backpacks, clothes, etc., for the new school year. But teachers are also buying school supplies for…
