Lawmakers across the U.S. will be debating whether to adopt new federal tax breaks for tips, overtime and business expenses ...

Man selecting 20% tip while using a handheld credit card scanner at a restaurant in Queens, New York. Man selecting 20% tip while using a handheld credit card scanner at a restaurant in Queens, New ...

President Donald Trump's promise of "no tax on tips" landed like a windfall for millions of servers, bartenders, and drivers who live on gratuities. The new rules do cut federal income tax on many ...

Tipped workers will be able to deduct up to $25,000 in tips from their taxable income beginning in 2025. To help sort out the details, the Treasury and the IRS are rolling out additional guidance.

This week’s Tax Breaks newsletter also looks at fantasy football winnings, car-related tax deductions, stock options, IRS Chief Counsel nod, Taylor Swift tax, tax filing deadlines, and tax trivia.

The Trump administration’s “No Tax on Tips” proposal would do more than make all tips income tax-exempt for servers. While this tax proposal promises to benefit servers, it’s more complex than that.

Philadelphia hospitality industry workers who rely on tips, whether cash or charged, can take advantage of a new federal tax deduction on top of the standard deduction for tips under a new law signed ...

The “No Tax on Tips” provision, passed and signed into law on July 4 as part of President Donald Trump’s One Big Beautiful Bill Act, allows eligible tipped workers to deduct a portion of their income ...

IRS audits are stressful and costly. Learn best practices and tips that will reduce your chances of getting audited by the ...