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Episode 4: No Tax on OT and Tips...What Your Payroll Department and Employees Need To Know.
Starting in 2025, the One Big Beautiful Bill Act introduces a major tax break for hourly workers: no federal income tax on qualified overtime pay and tips—up to $12,500 and $25,000 respectively. But before you celebrate, theses are the key details you need to understand.
This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com
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By Tax, Payroll and Bookkeeping Tips for Your Ministry.Starting in 2025, the One Big Beautiful Bill Act introduces a major tax break for hourly workers: no federal income tax on qualified overtime pay and tips—up to $12,500 and $25,000 respectively. But before you celebrate, theses are the key details you need to understand.
This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit clergyfinancial.substack.com