Bottom Line Accounting Pros LLC

📢 Exciting news for employees! H.R. 1 introduces an above-the-line tax deduction for qualified tips and qualified overtime compensation starting with the 2025 tax year! 📅

However, employers will need to navigate some new challenges as these deductions come into play. 🤔 Stay informed and prepared for what lies ahead!

What Employers Need to Know About No Tax on Tips and No Tax on Overtime | Littler On July 3, 2025, the U.S. House of Representatives narrowly passed H.R.1, the so-called “One Big Beautiful Bill Act,” ending a dramatic journey through Congress that dominated headlines in recent weeks. President Donald J. Trump is expected to sign the bill into law on July 4. The Act is intende...