Reported 1 day ago
'No tax on tips' has become law, allowing workers to deduct up to $25,000 in tips until 2028. However, concerns arise from labor unions regarding the bill's limitations and its temporary nature. While some tipped workers may benefit from the deduction, advocates argue it does not address the underlying issue of wage stability. Confusion remains about immediate pay changes versus future tax season impacts, as low-income workers and those not typically receiving tips might be overlooked by the policy.
Source: YAHOO