<ul data-eligibleForWebStory="false"><li>The Big Beautiful Bill passed in July includes tax changes affecting working-class Americans, with a tip and overtime tax break offering relief until 2028.</li><li>The tax break allows individuals like service workers to deduct tips and overtime wages from their taxable income, reclaiming up to $25,000 annually for couples.</li><li>However, starting in 2026, a new 1% excise tax will be imposed on certain outbound remittance transfers, adding a financial burden for those sending money overseas.</li><li>While the Big Beautiful Bill benefits some workers, particularly in service industries, it introduces challenges for individuals sending money abroad, emphasizing the need for tax planning.</li></ul>

Two Big Tax Changes That Could Hit Working-Class Households Under Trump’s “Big Beautiful Bill”

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