One, Big, Beautiful Bill Act Tax Prep Support 2025-2026 (Explainer)
Автор: Tax Lab Inc
Загружено: 2026-01-19
Просмотров: 46
Описание:
Big changes are coming to your tax return in 2025. The One, Big, Beautiful Bill Act was signed this summer, and it is bringing four massive new deductions that could keep more money in your pocket.
In this explainer video, we dive into the fine print of these temporary tax breaks that will run from 2025 to 2028. We cover the new "No Tax on Tips" rule allowing deductions up to $25,000, and the "No Tax on Overtime" deduction for that premium time-and-a-half pay.
We also explore a gamechanger for car buyers: a deduction for up to $10,000 in car loan interest. But be careful—the car must be new, and final assembly must be in the United States. Finally, we discuss the new "stackable" $6,000 deduction specifically for seniors over age 65.
These rules have strict income limits and often require filing jointly if you are married. Watch the full video to get your cheat sheet on eligibility so you are ready when tax season arrives.
#TaxLab #OneBigBeautifulBill #TaxDeductions2025 #NoTaxOnTips #OvertimePay #SeniorBenefits #CarLoanInterest #TaxPrep #FinancialPlanning #TaxSeasonReady
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