Is There No Tax on Cash Tips? Unraveling the Myths and Realities of Tip Taxation Is There No Tax on Cash Tips? Unraveling the Myths and Realities of Tip Taxation The allure of untaxed income is a powerful one, and the question of whether cash tips are tax-free frequently pops up. The short answer is … Read more
Decoding the No Tax on Tips Act: A Comprehensive Guide for Employees and Employers Decoding the No Tax on Tips Act: A Comprehensive Guide for Employees and Employers The question of whether tips are subject to taxation is a common point of confusion for both employees and employers. While the idea of a ‘No Tax … Read more
Introduction: The Tax Cuts and Jobs Act of 2017 – A Legacy in Numbers The Tax Cuts and Jobs Act (TCJA) of 2017, often referred to as Trump’s “Big Beautiful Bill,” remains a landmark piece of legislation, significantly reshaping the American tax code. Signed into law by President Donald Trump, this sweeping reform promised to … Read more
The Ongoing Debate Surrounding the Taxation of Tips in the Senate The question of whether or not tips should be taxed remains a contentious issue, sparking heated debates within the Senate and across various sectors of the economy. The potential for a “no tax on tips” Senate bill has ignited passionate arguments from both sides, … Read more
Is the No Tax on Tips Only for Cash Tips? Unraveling the Tax Implications of Gratuities The question of whether taxes are only levied on reported tips, specifically cash tips, is a common source of confusion for employees who receive gratuities as part of their income. The short answer is: no, the tax exemption on … Read more
What is the SALT Deduction? The State and Local Taxes (SALT) deduction is a provision in the US federal tax code that allows taxpayers to deduct the amount they paid in state and local taxes from their federal taxable income. This deduction can significantly reduce a taxpayer’s federal tax liability, especially for those living in … Read more
Decoding the Overtime Pay Tax Relief Act of 2025: What It Means for You The hypothetical Overtime Pay Tax Relief Act of 2025, while not yet existing legislation, represents a crucial area of potential policy change impacting millions of American workers. Understanding its potential implications is vital for both employees and employers. This comprehensive guide … Read more
