From 2025–2028, part of your overtime pay won’t be taxed. Dr. Friday explains exactly what qualifies and how much you can save.
Transcript
G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com.
This is a one-minute moment. New tax, new laws, new year. From 2025 through 2028, no tax on overtime. So this is a little more complicated than what a lot of people thought.
They were thinking every dollar I make in overtime, I’m not going to pay tax on. It is only the halftime or the part that is truly overtime that we’re going to be able to get credit for, up to $25,000.
And it has to be on your tax W-2. It cannot just be a number you put together. It has to be reported to the IRS.
You know, if you want to know more, you need to give our office a call. Set up an appointment or call us at 615-367-0819. You can catch the Dr. Friday Call-in Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.