The tip deduction doesn’t completely eliminate taxes on tips. The deductible amount is limited, it isn’t available to every worker who receives tips, some tips aren’t deductible, and tips are still ...

The 2025 tax season is bringing multiple notable changes that have left many taxpayers wondering what they need to know.

Read about IRS Publication 334, a vital tax guide for sole proprietors and statutory employees, offering essential tips on deductions, credits, and filing Schedule C.

The IRS is rolling out new deductions for tip and overtime income. Here's how they work and who qualifies.

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 Treasury has released a preliminary list of jobs that qualify for the new tip deduction. A whopping 68 occupations, including podcasters and bakers, made the list—some of them may surprise you.

On July 4, 2025, as part of the One Big Beautiful Bill Act (Act), provisions titled “No Tax on Tips” and “No Tax on Overtime” were signed into law. These provisions created new individual income tax ...

On July 4, 2024, President Trump signed the “Big Beautiful Bill,” which contains two provisions that provide federal income tax deductions on both tips and overtime compensation beginning January 1, ...

WASHINGTON (AP) — Golf caddies, blackjack dealers and house painters are among the jobs covered under the Trump administration’s preliminary list of occupations no required to pay income tax on their ...

This article highlights five practical considerations designed to support your efforts to interpret the OB3’s impact and help ...