Are Your Tips and Overtime Now Tax Free?

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The One Big Beautiful Bill made major tax changes for 2026. Here’s what you need to know about tips, overtime tax rules, SALT deduction limits, and the child tax credit.

In this video, Joe Stoy, financial adviser and senior accountant at Bass, breaks down what actually changed, what stayed the same, and how caps and phase outs impact your paycheck. No tax jargon. No confusion. Just clear explanations.

You’ll learn:
• Whether tax brackets changed
• How the $25,000 tips and overtime tax rule works
• What “caps” and “phase outs” really mean
• The new SALT deduction limit
• Car loan interest deduction updates
• The permanent $2,200 child tax credit
• Why higher earners may lose certain benefits

If you work for tips, earn overtime, have a car loan, or pay high state taxes, these updates could directly impact how much money you keep.

Book a meeting with our team to make sure you are not leaving money on the table.

Subscribe for straightforward tax and financial guidance designed to help you keep more of what you earn.

Base Wealth Management ("the Firm") is an SEC registered investment adviser located in Lakewood Ranch, Florida. Registration does not imply any specific level of skill or training, and the content of this communication has not been approved or verified by the United States Securities and Exchange Commission or any state securities authority. BWM may only transact business in those states in which it is registered or qualifies for an exemption or exclusion from registration requirements. Investing involves risk, including the possible loss of principal. Past performance does not guarantee future results, and no strategy can ensure success or protect against loss in declining markets. For additional information, please review the Firm's Form ADV, available at www.adviserinfo.sec.gov.