Tax on Tips, Trump
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Proposed changes making their way through Congress would benefit many employees, but some details are still in flux.
In a surprise move, the Senate passed the No Tax on Tips Act which would allow up to a $25,000 deduction for workers who typically receive tips.
Under the bill, employees would be eligible for an annual income tax deduction of $25,000 for some types of cash tips.
Plus, Senate Republicans’ new filibuster loophole.
Ohio workers could avoid state and local taxes on their tips under a bill introduced by a Republican lawmaker. House Bill 209 would exempt tips from state and local income taxes, regardless of how much the person makes.
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The U.S. Senate unanimously passed the "No Tax on Tips Act," a bill that would create a tax deduction on tips worth up to $25,000. What happens next?