No Tips and Overtime Aren't Fully Tax Free — Here's What the Fine Print Actually Says
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No Tips and Overtime Aren't Fully Tax Free — Here's What the Fine Print Actually Says
Someone told Tom that taxes on tips and overtime are fully deductible — every dime. That is a lie. Tips: deductible up to $25,000. Overtime: deductible up to $12,500 and only the premium portion. Both subject to income limits. Both expire in 2028. Corporate tax cuts from the first term? Those were made permanent. Donnie loves stupid people ...
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