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No Tax on Tips or Overtime – OBBB Act
By: Larry Shaub, CPP, CPA, AccuPay Founder, Tax Director, & ACA Consultant
President Trump signed his One Big Beautiful Bill Act into law on July 4th, which includes a few of his signature tax promotions, no taxes on tips and no taxes on overtime. Learn some details about these two provisions, PLUS a brand new FICA tip tax credit available to employers in the beauty services industry (very similar to the long-time FICA tip tax credit which restaurants have been able to claim since the early 1990s).
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