Big Beautiful Bill Overview
BeginnerComprehensive overview of the One Big Beautiful Bill Act provisions
Estimated Time: 25 minutes
Learning Objectives
- Understand tip income exclusion benefits
- Learn about overtime income tax treatment
- Explore enhanced QBI deductions
- Understand senior citizen benefits
Big Beautiful Bill Provisions
No Tax on Tips
Complete exclusion of tip income from federal income tax for all service workers.
No Tax on Overtime
Overtime compensation is completely excluded from taxable income.
Enhanced Child Credit
$2,500 per child (2025-2028), then $2,000 permanent.
Enhanced QBI Deduction
25% enhancement to Qualified Business Income deduction.
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