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 ...

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 ...

Treasury posted a preliminary list of occupations that customarily and regularly receive tips for purposes of the “no tax on tips” provision of H.R. 1, P.L. 119-21, commonly known as the One Big ...

The massive federal spending and tax bill, dubbed the Big, Beautiful Bill, was signed into law by President Donald Trump on July 4th. The bill includes tax breaks for tipped workers, such as those in ...

NOTE: An earlier version of this story overestimated how much workers could save in federal taxes under President Donald Trump’s “big, beautiful bill” and did not apply progressive tax brackets. The ...

A "no tax on tips" proposal has broad support among politicians and Americans across party lines, though critics – including a restaurant trade group – warn the tax break could be costly and apply ...

The Senate has passed President Donald Trump's highly anticipated tax agenda, including a provision to lower federal income taxes on worker tips. The proposal, part of the One Big Beautiful Bill Act, ...

Inflation is the monster in the closet for many investors, and that's why Treasury inflation-protected securities (TIPS) are objects of great interest lately. The government-guaranteed bonds are ...

Typically, the government wants a cut of any money you earn. But soon, tips earned on the job may become an exception to that rule. Following promises from both parties during the last presidential ...

There’s no question that President Trump’s proposal to stop taxing tips has broad appeal. It’s popular in polling, lawmakers in both parties support it, and now a version of the idea is on its way to ...

A bipartisan bill that passed the U.S. Senate by unanimous vote on May 20 could mean no income tax on tips for bartenders and restaurant workers, as well as other occupations that rely heavily on ...

The Senate on Tuesday passed a bill that would eliminate federal taxes on tips, advancing a key campaign promise of President Trump’s, with the help of Senate Democrats. Sen. Jacky Rosen (D-Nev.) ...