Before filing your 2025 income tax returns, you need to know about several new tax deductions which are important to bartenders, tattooists and other tipped-wage workers. Here's what you need to know ...

For millions of workers, tips aren’t just a perk — they’re essential. Data show that about 4 million people in the United States, or one out of every forty workers, depend on tips to pay the rent and ...

If you earn tips at work, you may be able to deduct up to $25,000 of qualified tips on your federal income tax return. The tip deduction is gradually phased out – potentially to $0 – if your modified ...

The tax break on tip income is not automatic. You need to file a new form. The U.S. Treasury Department has a list of dozens of occupations that 'customarily and regularly received tips' that qualify ...

The tax break on tip income is not automatic. You need to file a new form. The U.S. Treasury Department has a list of dozens of occupations that 'customarily and regularly received tips' that qualify ...

If you have overtime in 2025, your taxes might look a little different this year. With the signing of President Donald Trump's “One Big Beautiful Bill” on July 4, 2025, several tax changes are going ...

Despite the simple and catchy sound-bites, the “no tax on tips” and “no tax on overtime” opportunities under the One Big Beautiful Bill Act (the “OBBBA”) have limits and require administration by both ...

In July 2025, the 'One, Big, Beautiful Bill' was signed into law and several new tax law provisions are set to become effective, impacting federal taxes, credits and deductions. This bill makes ...

Among the many changes to U.S. legislation as a result of the One Big Beautiful Bill Act (OBBBA) — signed into law by the Trump administration in 2025 — is the No Tax on Tips stipulation. This new tax ...

Early-bird tax filers will be happy to know that the Internal Revenue Service will begin accepting and processing 2025 income tax returns on Monday, Jan. 26. Taxpayers are likely to be shocked to ...

Locksmiths, tattoo artists and pedicab drivers are among those who could benefit from a new deduction this tax season that lowers the burden on workers who received tips as part of their income last ...

Despite the simple and catchy sound-bites, the “no tax on tips” and “no tax on overtime” opportunities under the One Big Beautiful Bill Act (the “OBBBA”) have limits and require administration by both ...