Melissa A. Schiff, CPA, PC - Year Round Service

03/24/2026

ONE BIG BEAUTIFUL BILL - OVERTIME BENEFITS
by Melissa Schiff, CPA

The "One Big Beautiful Bill" Overtime Tax Deduction: What It Is, Who Gets It, and Why Your Paycheck Won't Budge (Yet)

Congress really did pass something called the One Big Beautiful Bill Act (OBBBA)—and yes, that's the actual name! Let's break down what this means for you in plain English.

WHAT'S THE OBBBA OVERTIME DEDUCTION?
Starting with your 2025 taxes (and running through 2028), eligible employees can deduct up to $12,500 of "qualified overtime compensation" each year. Married couples filing jointly? You get up to $25,000.

WHAT COUNTS AS "QUALIFIED OVERTIME COMPENSATION"?
• Only the "half" part of your time-and-a-half overtime pay (the "premium" mandated by the FLSA) is eligible.
• If you make $20/hr and overtime is $30/hr, only that extra $10/hr counts.
• Overtime paid because your state requires it, union negotiated it, or your boss is generous? Not eligible.
• Extra pay for nights, weekends, or holidays? Also not eligible.
• Salaried/exempt employees? Currently not eligible (we're watching for changes).

WHO GETS THE DEDUCTION?
• Non-exempt W-2 employees who earn overtime under federal law.
• You can claim it even with the standard deduction—no itemizing needed.
• High earners: Deduction phases out at $150K (single) or $300K (married) in modified adjusted gross income.

WILL MY PAYCHECK CHANGE?
Nope! Take-home won't change in 2025. The IRS isn't changing withholding tables until 2026. You'll feel the benefit at tax time—think of it as a little tax-time bonus!

WHAT ABOUT EMPLOYERS?
You'll need to separately track and report "qualified overtime compensation" on each employee's W-2. For 2025, the IRS is letting you use "any reasonable method" to estimate. (Yes, payroll systems everywhere just groaned in unison.)

👉 See Part 2 below for the rest of the details and bottom line!

Questions? Drop them in the comments—that's what this community is for! 💡

03/23/2026

🚨 NEW TAX BREAK ALERT: One Big Beautiful Bill Overtime Deduction 🚨

If you're an hourly employee working overtime, Congress just handed you a potential tax break—up to $12,500 per year (or $25,000 if you're married filing jointly).

Here's the catch: Your paycheck won't change in 2025. But when you file your taxes? That's where the magic happens.

We're breaking down EXACTLY what qualifies, who gets it, and what employers need to know in our latest article. Spoiler: Not all overtime counts, and there are some important details you need to understand.

👉 Want the full breakdown? Join our Elevate Business Mastery Community where we dive deep into tax strategies that actually save you money. Members get the complete article plus expert guidance on whether this applies to YOU.

Link in bio to join! 💼

03/22/2026

Real business wins. Real people. Real support.

Ever wonder what happens when small business owners actually cheer each other on? Here’s a peek: this week, one owner found a doable method to capturing receipts without cussing!

The best part? Every win is celebrated together. No stiff suits, just honest advice and high-fives.

Ready to see what you’re missing? Join today to be in our next session. 🎉

https://www.melissaschiffcpa.com/pricing-plans/list

03/22/2026

Receipts everywhere? You’re losing real money.

Every crumpled gas slip could be $5K–$15K in missed deductions. Most S-Corp owners never see it. Want to turn that glovebox chaos into real savings? I’ll show you how to organize fast—and keep more cash in your pocket.

Ready for practical tax wins? Let’s chat. 💸

Need a group to support you? Check out ours:
https://www.melissaschiffcpa.com/pricing-plans/list

03/21/2026

🚨 STOP: You're probably confused about 1099-K, sales tax, and income tax. Let's fix that.

Here's what most people get WRONG:

❌ "I didn't get a 1099-K, so my income isn't taxable"
❌ "I got a 1099-K, so everything on it is taxable"
❌ "If sales tax was collected, I don't owe income tax"

Here's what's ACTUALLY true:

✅ The 1099-K is just a REPORTING FORM. Whether you get one depends on payment processor thresholds—not whether you owe taxes.

✅ Not getting a 1099-K doesn't make income disappear. The IRS still knows about it.

✅ Everything on a 1099-K isn't automatically taxable either. Context matters.

✅ Sales tax and income tax are COMPLETELY SEPARATE systems. Just because sales tax was collected doesn't mean your profit is exempt from income tax.

The real question: Did you sell items at a GAIN (profit) or LOSS, and was it a BUSINESS activity or casual/personal sales?

That's where your tax liability actually comes from.

Confused? That's exactly why we're here. Let's talk about YOUR situation.

👉 Join our community for the full breakdown or schedule a quick tax strategy call.

03/21/2026

Real wins. Real support. Real community.

Ever wondered what happens when small business owners come together to share, learn, and celebrate? You get moments like “Celebrating my first big client!” and “Peer support = growth!”

This is what the Business Mastery Community is all about.

Ready to join a table where your success matters? https://www.melissaschiffcpa.com/pricing-plans/list 😊

03/20/2026

🚨 STOP: You're probably confused about 1099-K, sales tax, and income tax. Let's fix that.

Here's what most people get WRONG:

❌ "I didn't get a 1099-K, so my income isn't taxable"
❌ "I got a 1099-K, so everything on it is taxable"
❌ "If sales tax was collected, I don't owe income tax"

Here's what's ACTUALLY true:

✅ The 1099-K is just a REPORTING FORM. Whether you get one depends on payment processor thresholds—not whether you owe taxes.

✅ Not getting a 1099-K doesn't make income disappear. The IRS still knows about it.

✅ Everything on a 1099-K isn't automatically taxable either. Context matters.

✅ Sales tax and income tax are COMPLETELY SEPARATE systems. Just because sales tax was collected doesn't mean your profit is exempt from income tax.

The real question: Did you sell items at a GAIN (profit) or LOSS, and was it a BUSINESS activity or casual/personal sales?

That's where your tax liability actually comes from.

Confused? That's exactly why we're here. Let's talk about YOUR situation.

👉 Join our community for the full breakdown or schedule a quick tax strategy call.
https://www.melissaschiffcpa.com/pricing-plans/list

Any accounting, business or tax advice contained in this communication, including attachments and links, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to...

03/20/2026

Saved $7,500 in taxes this year. Curious how? It started with a shoebox of receipts and a quick chat over coffee.

We found hidden deductions that put real money back into a local business owner's pocket.

Want to see what’s possible for your business? Let’s talk. 😊

03/19/2026

PART 2: ONE BIG BEAUTIFUL BILL - OVERTIME BENEFITS
(Continued from Part 1)

WHY IS THIS HAPPENING?
The goal is to help hourly workers keep more of their hard-earned money and encourage businesses to offer overtime when things get busy. But, as always with taxes, the devil is in the details (and the fine print, and the IRS instructions…).

A FEW FINAL NUGGETS:
• This is retroactive to January 1, 2025. So yes, your overtime this year counts!
• We'll be sending out more info soon—especially on who counts as "exempt" vs. "non-exempt." The Department of Labor is still hashing out the details in court, so stay tuned.
• Payroll folks: Take a deep breath. The IRS knows this is a big lift, and there's some flexibility for 2025 reporting.

BOTTOM LINE:
If you're an hourly employee working overtime, you could see a nice tax break next year—just not in your paycheck right away. If you're an employer, time to check your payroll systems and dust off your W-2 reporting skills. And if you're not sure where you fit, don't worry: we're here to help you relax (because, as always, we can handle it).

Questions? Want to know if you qualify? Drop a comment below, and let's chat about how this applies to YOUR situation. That's what this community is all about!

👍❤️💡👏

03/05/2026

Real business, real results. Here’s proof.

What if saving $18,500 in taxes was just the start? Imagine seeing 22% revenue growth in one year.

Last quarter, a group of small business owners partnered up, shared struggles, and came out stronger. "We did it together!" one said, sticky note and all.

Ready to write your own success story? Let’s chat about joining the Elevate Business Mastery Community. 🚀

https://www.facebook.com/groups/972092772144649/files/files

03/04/2026

Real wins. Real people. Real support.

Ever wondered what happens when small business owners get together, share their struggles, and actually celebrate each other's breakthroughs? This is what Elevate Business Mastery Group is all about. Today, we cheered as one member landed their biggest contract yet. Another finally delegated payroll and reclaimed their weekends.

Ready to join a community where your growth is everyone’s priority? Let’s work together. https://www.facebook.com/groups/972092772144649/files/files
🎉

03/03/2026

Stop overpaying taxes. Start saving today.

Most S-Corp owners miss $5K–$15K in annual savings. Wondering if you’re one of them?

I’ve seen firsthand how the right tax strategy transforms chaos into clarity. Want a personalized review or to join our Business Mastery Community?

Drop a comment or message me to get started. Relax, we can handle it! 😊