Overtime Tax Deduction: What Workers Need to Know
Vancouver News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Overtime Tax Deduction: A Complex Reality - The new overtime tax deduction, passed last July, is proving to be more complex than anticipated. Only the premium portion of overtime pay qualifies, and many W-two forms do not separate overtime hours, requiring employees to track down printouts from their bosses. The deduction shrinks for higher earners and will be simpler to claim starting in 2026. A similar tips deduction offers relief for service workers.
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