Navigate the complex landscape of the 2025 One Big Beautiful Bill Act (OBBBA) with confidence. This comprehensive course provides essential knowledge about the significant changes to compensation, payroll processing, and employment-related deductions that will impact your 2025 and 2026 tax season preparation.

You'll learn how to properly identify qualifying tips and overtime, understand the new W-2 reporting requirements coming in 2026, advise clients on Form W-4 updates, and maximize tax benefits for your clients. Special attention is given to the practical challenges of handling 2025 returns without standardized reporting, including strategies for gathering information and making reasonable determinations.

This course also covers the enhanced child and dependent care credit, increased flexible benefit limits, changes to educator expenses, transportation benefits, student loan repayment programs, and the new Trump Accounts provision. Whether you serve individual clients receiving tips and overtime or business clients managing payroll operations, this course equips you with the knowledge to provide expert guidance through these transformative changes.

Learning Objectives:

Upon completion, you will be able to:

1.       Calculate and apply the new deductions for qualified tips (up to $25,000) and overtime pay (up to $25,000 MFJ/$12,500 other), including AGI phaseout rules and exclusions for specified service trade or businesses (SSTBs)

2.       Distinguish between qualifying and non-qualifying tips and overtime compensation, including mandatory service charges, FLSA Section 7 requirements, and state-mandated overtime provisions

3.       Navigate the W-2 reporting transition from 2025 (no form changes) to 2026 (new Box 12 codes), including strategies for gathering information when preparing 2025 returns without standardized reporting

4.       Apply the senior exemption deduction of $6,000 for taxpayers age 65 and older, calculate AGI phaseouts, and optimize other employment-related provisions including the enhanced child and dependent care credit and increased flexible benefit limits

Advise clients on Form W-4 updates for 2026, dependent care assistance planning, educator expenses, student loan benefits, and other compensation-related tax planning opportunities