How the “One Big Beautiful Bill” Could Affect Your Next Home Purchase
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This law impacts homebuyers by allowing deductions for tips and overtime pay, and providing a new tax deduction for seniors.
- The description claims that individuals can deduct up to $25,000 of qualified tips and $12,500 of qualified overtime compensation from their taxable income.
- The description claims that seniors can receive a new $6,000 per-person tax deduction.
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