Marquez TAX Services

Qualified Overtime Pay: Eligible nonexempt employees can deduct the "half" portion of their "time-and-a-half" overtime pay, up to $12,500 for single filers and $25,000 for joint filers.

Child Tax Credit (CTC): The maximum credit increases to $2,200 per qualifying child under age 17, and up to $1,700 of this may be refundable.

State and Local Taxes (SALT) Deduction: The cap for the SALT itemized deduction increases from $10,000 to $40,000 for married couples filing jointly (and single filers), with income-based phaseouts starting at a modified AGI of $500,000.