{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Tax in Action: Practical Strategies for Tax Pros","title":"The Qualified Overtime Deduction, Fact vs. Fiction","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/e8fb1d82\"></iframe>","width":"100%","height":180,"duration":3334,"description":"Jeremy unpacks the \"no tax on overtime\" deduction created by the One Big Beautiful Bill Act, explaining why the name is misleading since qualified overtime compensation is still taxable income subject to withholding, FICA, and (in most states) state tax. He walks through how to isolate the FLSA overtime premium from gross overtime pay, calculate the deduction on the new Schedule 1A, and apply the filing status caps and MAGI phaseouts through real client examples. He also flags the reporting changes coming in 2026, when employers must correctly report the amounts on Form W-2, Box 12, Code TT, and the relaxed 2025 transition rules disappear.\nConnect with Jeremy\nhttps://www.linkedin.com/in/jwellstax\nhttps://www.steadfastbookkeeping.com\nSubscribe on YouTube\nhttps://www.youtube.com/@TaxinAction\nEarn CPE for Listening to This Podcast\nhttps://www.earmark.app/\nThis podcast is a production of Earmark Media","thumbnail_url":"https://img.transistorcdn.com/Ky2dMmDjksNXGZr_rW3qrZ7NO55NpaMQg-0Hi-XDcGo/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9mZTc2/ZmVkMTk4MDRkMjBl/MTQ3ZDQ4YWZjM2Rk/YWE1NC5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}