The “One Big Beautiful Bill” recently passed and you might be wondering what that means for you and your family. If you’re a tipped worker, an employee doing overtime, a parent raising children, or a homeowner paying high property taxes, this legislation could bring significant tax changes that could have impacts on your taxes and wallet. We’ll lay out some of the key changes under the new tax bill to help you navigate these new changes.

Let’s start with two new tax deductions: The deductions for no tax on tips and overtime. Beginning in tax year 2025 through tax year 2028, qualified workers earning tips like servers, baristas and salon professionals, may be able to deduct up to $25,000 of that tip income. The deduction is phased out at income over $150,000 ($300,000 married filing jointl

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