Trump Proposes Eliminating Taxes on Tips in New Bill
If you work in a service industry where tips form a major part of your income, President Donald Trump's campaign promise to end taxes on tips probably piqued your interest. Though he's only been in office for a few months, the president is already trying to make good on this promise via a new Republican-backed tax bill currently in the House of Representatives.The 389-page bill covers a variety of tax reforms, and it specifically calls out no taxes on tips. While it's not clear that this bill will pass or that all its provisions will remain as they appear now, it gives us insight into what this change would look like.Image source: Getty Images.Continue reading
If you work in a service industry where tips form a major part of your income, President Donald Trump's campaign promise to end taxes on tips probably piqued your interest. Though he's only been in office for a few months, the president is already trying to make good on this promise via a new Republican-backed tax bill currently in the House of Representatives.
The 389-page bill covers a variety of tax reforms, and it specifically calls out no taxes on tips. While it's not clear that this bill will pass or that all its provisions will remain as they appear now, it gives us insight into what this change would look like.
Image source: Getty Images.
