Overtime & Tips Deduction Calculator (TEAM)

📊 Overtime & Tips Tax Deduction Calculator

By X-Treme Taxes LLC

Take the guesswork out of calculating overtime and tip-based tax deductions with this professional-grade Excel calculator designed by tax pros, for tax pros.

The Overtime & Tips Tax Deduction Calculator helps you accurately determine eligible deduction amounts while avoiding common calculation errors that can trigger IRS adjustments or audits.

✅ What This Calculator Does

✔ Calculates overtime premium only (not total overtime wages)

✔ Separates W-2 employee tips from non-eligible income

✔ Applies annual caps and income phase-outs

✔ Prevents double-counting wages and tips

✔ Flags estimated vs. documented inputs

✔ Provides a clean summary sheet ready for return preparation

📂 What’s Included

• Excel workbook with 5 organized tabs:
• Instructions
• Inputs
• Overtime Calculator
• Tips Calculator
• Summary
• Yellow input fields for easy data entry
• Locked formulas to prevent accidental errors
• Dropdown selections for filing status & calculation methods

👩🏽‍💼 Who This Is For

✔ Tax preparers & EROs

✔ Payroll-heavy W-2 clients

✔ Tip-based industries (hospitality, beauty, service workers)

✔ Tax partners needing a standardized OT/tips workflow