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ID: Pjwvl6hV/pol/509049968#509054617
6/29/2025, 8:15:34 PM
>>509051459
>>509053445
>>509053582
Yeah, the proposed limits rn are:
1. Overtime and tip deductions are only permitted for US citizens and permanent residents. (No corporations, temporary workers etc. can use the deductions.)
2. Overtime and tip deductions can only be used for taxable years through 2028. (We need to renew the deduction as a campaign issue in 2028.)
3. Limits tipping deductions using more precise language specifically targeting beauty and food to avoid delegating authority to IRS.
4. $12500 per year in overtime and $25000 per year for tips
5. Income limit of $150000 in order to use the deductions
On the other hand, you won't need to itemize to use this deduction. It's a different type of income and effectively, within the limits, you won't need to consider it income unless you go over $150K.
>>509053445
>>509053582
Yeah, the proposed limits rn are:
1. Overtime and tip deductions are only permitted for US citizens and permanent residents. (No corporations, temporary workers etc. can use the deductions.)
2. Overtime and tip deductions can only be used for taxable years through 2028. (We need to renew the deduction as a campaign issue in 2028.)
3. Limits tipping deductions using more precise language specifically targeting beauty and food to avoid delegating authority to IRS.
4. $12500 per year in overtime and $25000 per year for tips
5. Income limit of $150000 in order to use the deductions
On the other hand, you won't need to itemize to use this deduction. It's a different type of income and effectively, within the limits, you won't need to consider it income unless you go over $150K.
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