Well, howdy there, Internet people, it's Bell again.

So today, we're going to talk about Trump, tips, overtime, and the tax man.

So Trump promised no taxes on tips or overtime, because he's truly a friend to the working class.

Well, now the Senate has released its version of the tax provisions in Trump's

agenda. Unsurprisingly, the fine print doesn't live up to the hype. There's a deduction for

overtime pay, which means it'll still come out of your check, but you can deduct it on your

taxable income when you file. Also, it's capped at $12,500 per year.

In other words, yes, there will still be taxes on overtime. In fact, those people in the trades

that were celebrating it the most on social media, talking about making 40 or 50,000 per year in overtime,

the deduction doesn't cover it.

Okay, but what about tipped employees?

That's also a deduction.

So, they're still taking the money out of your check,

and the Senate version caps it at 25,000 per year.

So unless you're making less than 2100 per month, you will still pay taxes on some of your

tips.

Oh, also, they sunset, and this whole thing goes out the window in 2028.

Then you go back to full taxes on overtime and tips.

The devil is always in the details.

Okay, so what else is different?

The House bill bumps up the child tax credit by $500.

The Senate cut it down to $200.

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