calculate_obbb_deductions
Calculate OBBB Act tax deductions for TY2025+, including tips, overtime, senior bonuses, and auto loan interest. Determines eligibility and estimates total tax savings based on your financial details.
Instructions
Calculate all OBBB (One Big Beautiful Bill) new deductions for TY2025+: tips income deduction, overtime pay deduction, senior bonus deduction, and auto loan interest deduction. Shows which deductions you qualify for and the total tax savings.
Input Schema
TableJSON Schema
| Name | Required | Description | Default |
|---|---|---|---|
| taxYear | Yes | Tax year (2025+) | |
| filingStatus | Yes | ||
| agi | Yes | Adjusted Gross Income | |
| age | No | Taxpayer age (needed for senior bonus) | |
| spouseAge | No | Spouse age if MFJ | |
| tipIncome | No | Annual tip income from qualifying occupation | |
| overtimePay | No | Annual overtime premium pay | |
| autoLoanInterest | No | Interest paid on qualifying US-assembled new vehicle loan | |
| marginalRate | No | Your marginal tax rate (for savings estimate, e.g. 0.22) |