Established in 1965

Mayfield​ Tax Service

New tax law changes that may affect you - this page is being updated.  Ask your tax consultant for current information. 

No Tax on Tips:

​Effective 2025 - 2028

Up to $25,000  and phases out as income increases ($150,000 -$300,000 depending on filing status)

​Must be from an occupation that customarily and regularly receives tips.

May or may not be reported on W2.  You may want to consult your final year to date paycheck stub for 2025

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One Big Beautiful Bill Act (OBBBA) 

General changes that may affect you

Although the OBBBA introduced many major changes and this is in no way a comprehensive breakdown, we wanted to focus on some of the updates that may directly apply to you.

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​No Tax on Overtime

Qualifying overtime may or may not be reported on your W2. Consult paycheck stubs for overtime amounts.  The deduction is for the premium portion of overtime.  For example, if you are paid time and a half for overtime, the "half" portion will be calculated for the deduction amount. This deduction is subject to income limitations and is limited to $12,500 for singles and $25,000 for married filing joint.

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