Deeper Into the Senior Exemption and Overtime Deduction
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Deeper Into the Senior Exemption and Overtime Deduction
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On this episode, we dive into the new senior exemption. Unlike overtime, tips and vehicle loan interest, this deduction from the Big Beautiful Bill hasn't gotten a lot of coverage. We break it down on this episode.
Then, we look at some items relating to the overtime deduction, including the definition of qualifying overtime, and the oddity around how the phaseout on the deduction works.
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