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Started By
Message
How many of you Baws utilized the 25k OT tax deduction?
Posted on 3/26/26 at 8:32 pm
Posted on 3/26/26 at 8:32 pm
Either honestly or dishonestly?
9
Posted on 3/26/26 at 9:13 pm to TexasHand
quote:
honestly
I did
Posted on 3/26/26 at 9:18 pm to TexasHand
How would you do it dishonestly? My W2 showed how much OT I could claim.
I don't do my own taxes so I don't know how this entry works.
I don't do my own taxes so I don't know how this entry works.
Posted on 3/26/26 at 9:19 pm to TexasHand
Friendly reminder to my OT OT workers: you can only claim the deduction on the extra portion. So only the extra “half” on the “time and a half”
Posted on 3/26/26 at 9:20 pm to TexasHand
quote:I tried deducting the Music Board as a dependent, but still had to pay the tax for Larry Leo's remedial English classes
How many of you Baws utilized the 25k OT tax deduction?
Posted on 3/26/26 at 9:22 pm to TexasHand
This guy did. Return went up by about $6,000.
Posted on 3/26/26 at 9:22 pm to TexasHand
The IRS already knows what was reported on your W2. If it's not split out, you can't claim it legally. The chick that cuts my hair lost out on $3k in refunded taxes because they included taxes and tips on the same W2 line and didn't spilt it out.
Posted on 3/26/26 at 9:33 pm to Gee Grenouille
quote:
guy did. Return went up by about $6,000.
I haven’t had a return in many years… I was refunded a little shy of $6k this year.
Posted on 3/26/26 at 10:04 pm to Gee Grenouille
quote:
Return went up by about $6,000.
For the love of frick can people learn the difference between a tax return and a tax refund
Posted on 3/26/26 at 10:10 pm to LemmyLives
quote:
The chick that cuts my hair lost out on $3k in refunded taxes because they included taxes and tips on the same W2 line and didn't spilt it out.
Half of her income was from tips, and the salon didn't split it out, and refused to reissue W-2s. You can't legally claim it under the BBB rules. Which sort of applies to OT:
quote:
Overtime must be reported on a Form W-2 or other specified statements.
quote:
On your W-2, tips should be included in the wages in W-2 box 1, and shown separately in box 7. If your tips are included in box 1, but not shown separately in box 7, the W-2 is not filled out correctly.
$3k in taxes she shouldn't be paying, because HR is lazy. But OT, for some reason, has slightly different rules:
quote:
For the 2025 tax year, your employer might report your qualified overtime compensation for the year in Box 14 of your W-2 form. You could also receive a separate statement reporting your overtime pay for the year (including if you’re self-employed). If that’s the case, you can rely on the reported amount to calculate the overtime deduction.
If your employer doesn’t use Box 14, or a separate statement reporting your overtime pay isn’t provided, you can use other records – such as earnings statements, pay stubs, invoices, or similar documents – to determine the amount of qualified overtime compensation you received in 2025 (keep those records with your other tax documents).
Can't do that for tips, because it's a BBB. You don't hate politicians enough.
Posted on 3/26/26 at 10:14 pm to TexasHand
You only get to deduct the “Premium time” of your overtime pay. So the amount would not be the total money you make in overtime, it’s the amount minus your base wage… so you make over 25k in overtime but you only get to write off less than half. Better than nothing I guess
Posted on 3/27/26 at 8:41 am to pickle311
Companies aren’t required to show it on a W2 this year…. The company I work for chose not to.
Posted on 3/27/26 at 8:46 am to TexasHand
(no message)
This post was edited on 3/27/26 at 8:49 am
Posted on 3/27/26 at 8:47 am to TexasHand
No clue. My tax lady will let me know.
I just now sent her my K1 and she hasn't responded.
I just now sent her my K1 and she hasn't responded.
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