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 ...

Tucked away among the 940 pages of President Donald Trump’s massive One Big Beautiful Bill Act (OBBBA) are an array of new tax write-offs, exemptions that Trump promised to enact while running for a ...

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 ...

The “No Tax on Tips” provision, passed and signed into law on July 4 as part of President Donald Trump’s One Big Beautiful Bill Act, allows eligible tipped workers to deduct a portion of their income ...

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 ...

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 ...

Hourly workers in the service, hospitality, and retail industries overwhelmingly back President Donald J. Trump’s bold NO TAX ON TIPS plan in the One Big Beautiful Bill, according to a new survey — ...

The proposed tax break allows tipped workers to deduct reported tips from their earned income, potentially lowering their taxable income. The deduction applies only to cash tips and excludes noncash ...