$4,400 Back in Your Pocket: No Tax on Tips Is Already Law (File in 2026 ).

Описание: The "No Tax on Tips" and "No Tax on Overtime" deductions are ALREADY LAW (signed July 4, 2025) and apply to your 2025 income when you file in early 2026. This video breaks down:
• Exactly how much you'll save based on your tips, tax bracket, and income ($2,160 to $4,400 in real examples)
• Why 37% of tipped workers get NO benefit (already pay zero federal income tax)
• The 68 qualifying occupations vs. the excluded jobs (health, law, performing arts)
• The $25,000 cap and $150k/$300k income phase-outs
• Why voluntary tips qualify but mandatory service charges don't
• Overtime deduction: $12,500 single / $25,000 joint (only the premium portion, not total overtime pay)
• How to calculate qualified tips if your W-2 doesn't show them separately (2025 only)
• State taxes still apply - federal deduction only
• Provisions expire December 31, 2028
⚠️ CRITICAL: You still pay Social Security & Medicare taxes on ALL tips - this only affects federal income tax.
Resources mentioned: 📋 IRS Proposed Regulations "No Tax on Tips": https://www.irs.gov/ 📄 Treasury List of 68 Qualifying Occupations: https://home.treasury.gov/ 💰 Form 4070 (Employee's Report of Tips to Employer): https://www.irs.gov/forms-pubs/about-... 📊 One Big Beautiful Bill Act Full Text: H.R. 1 (119th Congress) 📞 IRS Questions: 1-800-829-1040
Real Examples:
• Andrew (waiter): $18k tips, 12% bracket = $2,160 savings
• Becky (bartender): $30k tips (capped at $25k), 12% bracket = $3,000 savings
• Marcus (bartender): $20k tips, 22% bracket = $4,400 savings
• Jennifer (nurse): 520 hours overtime, $9,100 premium = $2,002
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LEGAL DISCLAIMER
IMPORTANT TAX NOTICE:
This video provides educational information only and does not constitute tax, financial, or legal advice. Information presented is based on the One Big Beautiful Bill Act (H.R. 1, 119th Congress) as signed into law July 4, 2025, and IRS guidance current as of December 2025.

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