The new law introduces two above-the-line deductions — one for tips and one for overtime pay. This allows eligible workers to deduct certain income from their federal taxable income, reducing how much they owe in federal income taxes. However, this does not eliminate all taxes on that income.
https://www.fastforwardaccounting.net/wp-content/uploads/2025/07/shutterstock_2269534821-2.jpg345845ADMINhttps://dev.fastforwardaccounting.net/wp-content/uploads/2023/03/Fast-Forward-Accounting-Solutions-Logo-Web.pngADMIN2025-07-14 19:52:152025-07-14 19:52:15Trump’s ‘Big Beautiful Bill’ Promises ‘No Tax On Tips And Overtime’, But There’s A Limit—Here’s Who Qualifies
An analysis paints a mixed picture of the “Big Beautiful Bill”—officially known as the One Big Beautiful Bill Act. The sweeping tax overhaul shifts benefits and burdens in surprising ways.
https://www.fastforwardaccounting.net/wp-content/uploads/2025/07/shutterstock_2647497059-2.jpg345845ADMINhttps://dev.fastforwardaccounting.net/wp-content/uploads/2023/03/Fast-Forward-Accounting-Solutions-Logo-Web.pngADMIN2025-07-07 17:39:062025-07-07 17:39:06Big Beautiful Bill Tax Changes By Income Bracket: Who Gains And Who Loses?
Despite the potential increase that Republican lawmakers are pushing to boost the child tax credit as part of their budget reconciliation plan, approximately 17 million children would still not qualify for the full credit.
https://www.fastforwardaccounting.net/wp-content/uploads/2025/06/canstockphoto88104769-2.jpg345845ADMINhttps://dev.fastforwardaccounting.net/wp-content/uploads/2023/03/Fast-Forward-Accounting-Solutions-Logo-Web.pngADMIN2025-06-30 19:00:232025-06-30 19:00:23The Child Tax Credit Could Be Worth Over $2,000 Under Republicans’ Spending Plan—But Millions Of Families Would Be Ineligible For Full Benefit
https://www.fastforwardaccounting.net/wp-content/uploads/2025/06/shutterstock_1888013611-2.jpg345845ADMINhttps://dev.fastforwardaccounting.net/wp-content/uploads/2023/03/Fast-Forward-Accounting-Solutions-Logo-Web.pngADMIN2025-06-23 21:43:192025-06-23 21:43:19New Tax Break Could Give Seniors Up To $6,000 More In Deductions
The upcoming changes to Social Security are part of a long-term reform plan first introduced in 1983 to help ensure the financial stability of the program. One of the most important updates is the increase in the Full Retirement Age (FRA).
https://www.fastforwardaccounting.net/wp-content/uploads/2025/06/shutterstock_1054218629-2.jpg345845ADMINhttps://dev.fastforwardaccounting.net/wp-content/uploads/2023/03/Fast-Forward-Accounting-Solutions-Logo-Web.pngADMIN2025-06-16 20:08:232025-06-16 20:08:23Goodbye To Retirement At 65: Social Security Sets New Retirement Age From 2026
Trump’s ‘Big Beautiful Bill’ Promises ‘No Tax On Tips And Overtime’, But There’s A Limit—Here’s Who Qualifies
The new law introduces two above-the-line deductions — one for tips and one for overtime pay. This allows eligible workers to deduct certain income from their federal taxable income, reducing how much they owe in federal income taxes. However, this does not eliminate all taxes on that income.
Big Beautiful Bill Tax Changes By Income Bracket: Who Gains And Who Loses?
An analysis paints a mixed picture of the “Big Beautiful Bill”—officially known as the One Big Beautiful Bill Act. The sweeping tax overhaul shifts benefits and burdens in surprising ways.
The Child Tax Credit Could Be Worth Over $2,000 Under Republicans’ Spending Plan—But Millions Of Families Would Be Ineligible For Full Benefit
Despite the potential increase that Republican lawmakers are pushing to boost the child tax credit as part of their budget reconciliation plan, approximately 17 million children would still not qualify for the full credit.
New Tax Break Could Give Seniors Up To $6,000 More In Deductions
Americans who are 65 and older will enjoy a hefty new tax break if the massive tax package currently being debated in Congress becomes law,
Goodbye To Retirement At 65: Social Security Sets New Retirement Age From 2026
The upcoming changes to Social Security are part of a long-term reform plan first introduced in 1983 to help ensure the financial stability of the program. One of the most important updates is the increase in the Full Retirement Age (FRA).