In this episode, Ara Oghoorian, CFP®, provides an important update on the "No Tax on Overtime" provision included in the One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025. Since the IRS has now released an official Fact Sheet with further guidance, this video addresses the most frequently asked questions we received following our previous video on the new legislation.
Ara breaks down what the new federal deduction for overtime pay really means, what qualifies, how much you can deduct, whether you need to itemize, and how this may affect both employees and employers.
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