Taxation of Tips & Overtime Under OBBBA Webcast [TTO2]

Subject:

Dec 3, 2025
Time: 08:30am-10:10am
Taxation

Credit Hours:

2.00

Price:

Member: $120.00
Non-member: $150.00

Discussion Leader:

Joseph Nicola, CPA

Joe Nicola is a Tax Partner with more than thirty-five years of experience in public accounting. Joe has experience in many diverse areas of taxation, including the taxation of and planning for individuals, family offices, and various forms of business entities, such as corporations, partnerships, and limited liability companies. Joe is particularly experienced in federal and multi-state tax matters that affect numerous industries and niches, including private equity, investments, natural resources, manufacturing, distribution, high technology, securities, and start-up businesses. He has consulted on technically complex matters, such as retirement planning, succession planning in the context of a family office, securities, partnership and corporate reorganizations and liquidations, and international tax matters. While in public practice, Joe also served for many years as an adjunct member of the faculty with Duquesne University's MBA and Master of Science in Taxation/Accountancy programs, as well as with Robert Morris University's Master of Taxation program. His course load included Corporate Taxation, Advanced Corporate Taxation, Reorganizations (Mergers and Acquisitions), Taxes as a Basis of Managerial Decisions, and Taxation of Derivatives. He is also a published author of CPE/CLE texts and industry articles, and a frequent professional speaker. Mr. Nicola received his BS degree in Business Administration from Robert Morris University and his JD degree from the University of Pittsburgh School of Law.

Full Description

Taxation of Tips and Overtime Under OBBBA Webcast (TTO2)

December 3rd, 2025 / 8:30 am 10:10 am

Live Webcast / Zoom

Arguably the most discussed topics to come out of the One Big Beautiful Bill Act (OBBBA) are the taxation of tips and overtime. Practitioners need to understand these provisions now, as they are effective for 2025 tax returns. This program provides practitioners with the background currently available to advise clients regarding these two important tax developments. Both employers and employees need to understand these timely changes to taxation.

Major Topics:
- $12,500 deduction per individual for qualified overtime pay
- Payment of overtime under the Fair Labor Standards Act (FLSA)
- Calculating the premium portion of the extra half-time pay
- Social Security and Medicare withholding
- Employer furnishing the record of qualified overtime compensation to employees
- Definition of a qualified tip
- IRS list of traditionally-tipped occupations
- $25,000 deduction for reported tips
- The transition rule allowing employers to indicate the approximate amount designated as tips or overtime
- State tax issues relating to tips and overtime
- Changes in the W-2 reflecting new employer reporting responsibilities

Learning Objectives:
Expertly advise clients regarding the latest on taxation of tips and overtime emanating from OBBA

Designed For: All accounting and finance professionals

CPE Credits: 2, Taxation

Level of Knowledge: Basic

Prerequisite: None

Acronym: TTO2

Discussion Leader: Joseph Nicola, CPA