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Schedule 1-A is a new tax form designed to consolidate four key OBBBA deductions that can be taken for the first time in 2025. Ultimately these four deductions: the tip deduction, the overtime deduction, the deduction for interest paid on a new car loan, and the senior deduction, appear as a single entry on line 13b of Form 1040.
Accounting and finance professionals who will be advising clients regarding new OBBBA deductions that will be taken for the first time in tax year 2025
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Ph.D., JD, CPA
Professional Education Network
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$109.00 - Member
$129.00 - Nonmember
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