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AmitaR
Employee Tax & Finance Expert
Employee Tax & Finance Expert
Member profile
Hello, I am Amita. I am a CPA.
Latest badges earned

  • Re: Income

    The money you receive from the Insurance Company for your loss after an Auto accident is not taxable income. Publication 525, Taxable and Nontaxable Income
    AmitaR
    Updated Aug 06, 2025

  • Re: Tax deduction on Overtime

    Phase-out Rate: For every $1,000 your Modified Adjusted Gross Income exceeds the threshold, the deduction is reduced by $100.
    AmitaR
    Updated Aug 06, 2025

  • Solved Re: senior tax credit

    $6,000 is not a reduction in tax liability. It is a reduction of Taxable Income.
    AmitaR
    Updated Aug 06, 2025

  • Re: overtime

    The One Big Beautiful Bill will be beneficial to you in the following ways: Increased Child Tax Credit:increased from $2,000 to $2,200 for qualified taxpayers ...
    AmitaR
    Updated Aug 06, 2025

  • Re: No tax on overtime

    As per the One Big Beautiful Bill, effective for Tax Years 2025 through 2028, individuals who receive overtime pay, may deduct the pay that exceeds their regula...
    AmitaR
    Updated Aug 06, 2025
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