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 ...

It’s no surprise that restaurant servers, manicurists, rideshare drivers and dogwalkers are among the workers who won’t have to pay federal tax on their tip income for the next four years, according ...

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 ...

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 ...

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 ...

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.) ...

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

Crank up the boy band videos, pump up the keg party, and call all your mall rat pals, because cheesy ’90s puka shell necklaces are back! Originating on the Hawaiian islands, the white shell accessory ...

Inflation just won’t stand down. But you can stand up to it. This week, the government reported that consumer prices rose 3% in January from a year earlier, reversing inflation’s sluggish decline from ...

President-elect Donald Trump campaigned on removing taxes on tips; many Democrats agree with the idea. Economists and tax experts say eliminating income tax on tips will not benefit most tipped ...