Starting in 2025, workers can keep more of what they earn—thanks to a new tax law that eliminates federal income taxes on tips and overtime pay through 2028. This big change means more money in your pocket if you work extra hours or earn tips. Find out who qualifies, how much you can save, and what steps you need to take.

The IRS projects a tax gap of $688 billion for 2021, highlighting the challenges of tax compliance and enforcement. This gap is caused by underreporting of income, nonfiling, and underpayment, and it could lead to higher taxes for those who follow the rules. Elite Consulting can help you navigate these challenges, ensuring you’re filing your taxes correctly and taking advantage of all available deductions, so you don’t overpay. Let us help you reduce your tax liability and keep more of your hard-earned money.