No Tax on Overtime Calculator

Only the overtime premium required by the Fair Labor Standards Act qualifies, meaning the extra half-time pay above your regular rate. If you are paid time and a half, the premium is about one third of your overtime pay. For 2025 through 2028 you can deduct up to 12,500 dollars (25,000 dollars joint) on IRS Schedule 1-A, on top of the standard deduction. The deduction is reduced by 100 dollars for every 1,000 dollars of MAGI above 150,000 dollars (300,000 dollars joint). Estimates only, not tax advice. Phone 689-331-5723.