Wait… Tips & Overtime Aren’t Taxed Now? The Truth Explained

Описание: In this video, CPA Todd Cox explains a new bill that includes a tax exclusion for overtime and tips — and clears up the confusion.

This does not mean no tax. Instead, there are specific caps and eligibility rules that determine how much can be excluded.

Todd covers:
• The exclusion caps ($12,500 for overtime per SSN and up to $25,000 in tips for married couples filing jointly)
• Why income must still be fully reported first
• How only the extra overtime premium qualifies
• Which industries are eligible — and who is excluded
• Why proper documentation is critical to avoid IRS issues
• How this change could help tip-dependent earners qualify for a mortgage

If you earn overtime or rely on tips, this conversation is essential to understand what applies to you and what doesn’t.

Have tax questions? Text “Todd” to 702-203-1165 for more information.

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