Investopedia

To Get This New Tax Deduction, You Must Calculate Your Overtime Pay—Here’s How

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Investopedia / Photo Composite by ...
Firefighter Nation

Tax-Free Overtime: Calculating the Effects on Firefighters’ Pay

Photo courtesy Indianapolis (IN) Fire PIO. Many individuals work long hours—far beyond the standard 40-hour week. Starting with tax year 2025, a tax provision in the One Big Beautiful Bill Act (OBBBA) ...
JD Supra

DOL Reminds Employers to Include Non-Discretionary Bonuses When Calculating Regular Rates and Overtime Premiums — But How?

We outlined the flurry of Opinion Letters that the Department of Labor (DOL) recently issued, but an important topic in one of those letters deserves a deeper dive: the requirement that employers ...
CNBC

Trump's 'no tax on overtime' deduction could be tricky this season — how to claim it

President Donald Trump's "big beautiful bill" added the "no tax on overtime" deduction for 2025 returns. Certain workers can deduct up to $12,500 for single filers or $25,000 for married couples ...
Hosted on MSN

To get this new tax deduction, you must calculate your overtime pay—here’s how

A new deduction allows workers to subtract part of their overtime wages from their 2025 taxable income, lowering some taxpayers' bills in April. However, workers will need to calculate their deduction ...