01/01/2026
Happy New Year from all of us at TRMP, CPA’s!
As you begin to gather your tax documents in the coming weeks, we want to make sure you’re aware of some important changes. Most of you probably heard about the tax law changes that were passed back in July under the “One, Big, Beautiful Bill Act”. This act included a provision that allows certain individuals the ability to deduct qualified tips and overtime pay from their taxable income. However, the W-2 form for 2025 is not changing. Employers are not required to report tips and overtime separately on your W-2. Please provide your last paystub of the year to your tax preparer so they can make sure you get the full deduction you’re entitled to. If you worked multiple jobs during the year, they will need your last paystub from each job (if you received any tips or overtime pay).
If you have any questions, please reach out to one of our professional staff members. You can reach us at (870) 246-4563 in Arkadelphia or (870) 234-7611 in Magnolia. We look forward to working with all of our returning clients this tax season. New clients are always welcome as well.
