Q: Our company provides a fixed overtime (OT) allowance of 1 hour per day and 20 hours per month instead of calculating ...

Taxpayers face a learning curve for figuring out how key tax deductions in the mega tax bill will work when they file 2025 tax returns next year.

Find out how these new deductions could reduce your tax bill and what you need to know to qualify before they expire.

First, not all overtime pay is tax exempt. The Wall Street Journal reported that the tax break only applies to part of the ...