Illustration: Tomi Um
How To
How to Turn the New Tax Breaks Into Real Savings
Expanded tax breaks under Trump’s new tax law — from SALT to tips and overtime — could lead to a bigger refund, provided you’re willing to navigate added rules and paperwork.
Americans filing taxes this year could qualify for a wave of new tax breaks under President Donald Trump’s One Big Beautiful Bill Act provisions. The savings, though, come with added complexity.
A higher cap on state and local tax deductions, new write-offs for tips and overtime wages, deductions for seniors and even car loan interest are among the biggest changes facing filers this season. Together, they create new opportunities for savings alongside additional layers of calculation.