Tax & Accounting Associates of GA, LLC

04/12/2026

Filed your taxes and didn’t provide valid bank information? Log into your Online Account to add it and get your refund faster. IRS.gov/directdeposit

02/11/2026

Some tax refunds may take a little longer, but the wait is worthwhile: If you claim certain credits, the is required to wait until mid-February to issue your refund. information can help you find out when you can expect your refund. Where's My Refund will show an updated status by February 22.

Find more information at www.irs.gov/refundtiming.

02/02/2026

We will be opening on delayed hours today due to slick roads. Opening 11am to 4pm.

01/28/2026

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The provides updated inflation adjustments, including standard deduction increases for tax year 2025, reflecting changes from the One, Big, Beautiful Bill. These updated amounts may affect how much income is subject to tax when you file this year. Learn more: https://ow.ly/WL9250XWo6J

01/15/2026

12/24/2025

Merry Christmas from our families to yours!

11/15/2025

Picking up extra hours at your job? You can get a tax deduction on qualified overtime compensation. Starting in tax year 2025, under the One, Big, Beautiful Bill, you can deduct up to $12,500 of wages that exceed your regular rate of pay. This can offer significant savings on your tax return.

Find out if you qualify at www.irs.gov/obbb.

08/12/2025

Thinking about buying a car? You might be eligible for a deduction, too. Starting this year, you may deduct interest paid on a loan to purchase a qualifying vehicle.

Find out if you qualify at https://ow.ly/A71K50Wq966

07/23/2025

Beware of phishing schemes aimed at stealing your identity through fake emails, including those directing you to click on fraudulent links to obtain your tax documents or “account summary.” See: www.irs.gov/phishing

07/16/2025

Overtime Pay

🧾 What the New Law Actually Does
1. Not a full exemption, but a deduction
The “no tax on overtime” isn’t truly tax-free—it’s an above-the-line deduction under the One Big Beautiful Bill (OBBBA), signed into law on July 4, 2025
2. Effective for tax years 2025–2028
Applies to overtime pay received after January 1, 2025, through December 31, 2028 .
3. Eligibility criteria
o Applies only to non exempt (hourly) employees under FLSA.
o Phases out for individuals earning over $100 K, heads of household over $150 K, and couples filing jointly over $200 K
4. Cap per filer
o Individuals can deduct up to $12,500 of overtime pay.
o Couples filing jointly up to $25,000
5. Does NOT affect payroll taxes
o Still subject to Social Security and Medicare withholding.
o You must track and report overtime separately on W 2s using updated payroll tables
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💡 What This Means for Clients
Step Action Impact
1 Identify eligible employees Hourly workers earning regular overtime.
2 Adjust payroll systems now To separately track overtime and apply new withholding.
3 Communicate the change Explain the deduction, income caps, and limited duration.
4 Plan for four years Overtime deduction available only through 2028—clients should assess long-term impacts.
🛠🏼 Employers should start revising payroll workflows and W 2 processes now. Employees should verify overtime amounts next year and ensure deductions are claimed properly on 2025 returns (filed in 2026).
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🔍 Summary for Clients (Bullet Point Version)
• ✅ Overtime pay receives a deduction from federal income tax—not full exemption.
• 🗓️ Applies to earnings from Jan 1, 2025, through Dec 31, 2028.
• 💰 Up to $12,500 (single) or $25,000 (joint) can be deducted.
• ⛔ Payroll taxes (Social Security, Medicare, State) still apply.
• 📋 Employers must update payroll systems and W 2 reporting.
• ⚠️ Income caps phase out benefit for higher earners.

We will share more details and updates as we have them.

07/14/2025

Experts say retiree Social Security is still taxable and you'll need to read the fine print to understand your situation and what you should withhold.