Gov. Kathy Hochul on Thursday proposed eliminating state taxes on tips of up to $25,000 a year, as a law that provides a similar federal tax deduction takes effect for 2025 tax-year filings. "I’m ...

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What began as a campaign promise in Nevada became law this summer with the passage of the One Big Beautiful Bill Act: "No taxes on tips" is now nationwide. But even as pundits debate its merits, ...

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Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. EMS-FORSTER-PRODUCTIONS/Getty ...

The federal government has shed light on which tips would be eligible for a proposed tax deduction in the "no tax on tips" initiative contained in the Trump administration's so-called One, Big, ...

WASHINGTON (AP) — The Treasury Department is moving closer to making President Donald Trump’s “ no tax on tips ” promise a reality. But new guidance released Friday tends to limit the number of tipped ...

The U.S. Department of the Treasury and IRS issued proposed regulations with more details about President Donald Trump’s “no tax on tips” deduction. The proposed regulations include eligible ...

Some 'no tax on tips' occupations might surprise you: Podcasters, social media influencers, plumbers and house painters. The new, special tax break on tips is retroactive and applies to eligible tip ...