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💡 New Tax Relief for Overtime & Tips Thanks to the federal law signed in July 2025, workers who earn tips or overtime pay may now qualify for special deductions on their federal income tax: Up to $25,000 of “qualified tips” can be deducted for tax years 2025 through 2028.
Up to $12,500 (single filer) or $25,000 (joint filer) of “qualified overtime compensation” can be deducted for the same period. The deduction phases out for higher incomes (starts at $150,000 for singles / $300,000 for joint filers). Important: This is federal income tax relief only — deductions don’t automatically apply to state taxes, Social Security or Medicare withholding. 👉 Want to see if you qualify? Talk to us. We can walk you through how to apply this to your 2025 tax situation and plan ahead for 2026. 📞 (415) 860-6288 🌐 flextcg.com 💬 Book your session today.
The price is quite reasonable and well worth it for the service they offer!
As a small business owner who just got into the industry, I highly recommend.