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No Tax on Tips Explained: What Workers Need to Know (2025 Trump Tax Bill)
8:22
YouTubeACap Advisors & Accountants
No Tax on Tips Explained: What Workers Need to Know (2025 Trump Tax Bill)
The “No Tax on Tips” provision in the new federal spending bill creates a special deduction for tipped workers, lowering what they owe in federal income tax starting in 2025. But tips are still subject to state and local income taxes as well as payroll taxes (Social Security and Medicare). In this video, I explain who qualifies, what counts ...
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