Dawn Pettiglio CPA

Dawn Pettiglio CPA Tax preparation and Investment Adviser Compliance

08/04/2025

"No tax on overtime" only refers to income tax and is only on the 50% bump you are paid for overtime pay ( the "half" in "time and a half") and is capped at $12,500 per year per taxpayer and only available if your earned income is below $150,000 per year. This deduction applies when you file your tax return, not when your paycheck is being calculated.

08/04/2025

'No tax on tips" is not an accurate description of what was signed in to law. Tips continue to be subject to income tax withholding and social Security tax and Medicare tax. What did change, was the ability to deduct from taxable income up to $25,000 of tip income if your AGI is below $150,000. So the savings won't happen until you file your tax return. Absolutely no changes have occurred to the payroll process. You are still required to report all tips to your employer.

07/27/2025

Beginning in 2026 you will be allowed to deduct monetary donations to 501c3 organizations up to $1,000 without itemizing.

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81 Sunset Hill Road
Bradford, NH
03221

Telephone

+16039385192

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