India, June 6 -- Americans may be able to save more money on taxes because of Donald Trump's One Big Beautiful Bill Act (OBBBA). The law introduced several new tax deductions that can lower taxable income and increase refunds. Most of the benefits focus on workers who earn tips, overtime pay, seniors, vehicle owners and homeowners.

Tip income is no longer taxed under the new law. Eligible workers can deduct up to $25,000 of tip income from their taxable income through 2028, as stated in the report by The Sun. Married taxpayers who file separate tax returns cannot claim this deduction.

Qualified overtime earnings are also exempt from tax under the OBBBA. Single filers, heads of household and qualifying surviving spouses can deduct up to ...