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 ...

Federal agencies are working to make President Donald Trump’s “no tax on tips” campaign promise a reality for eligible filers starting with their 2025 income, issuing new guidance Sept. 19 spelling ...

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 ...

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 ...

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 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 unanimously passed the No Tax on Tips Act in a surprise vote. This could boost momentum for the idea floated by President Donald Trump during his 2024 campaign. If enacted, the ...

WASHINGTON — In a surprise move, the Republican-led Senate quickly passed the No Tax on Tips Act on Tuesday, giving its official stamp of approval to an idea that has gained traction since President ...

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 ...

As the election kicks into high gear, both former President Donald Trump and Vice President Kamala Harris have made proposals on the campaign trail to end taxes on tips. It's an idea that sounds ...

The conversation around eliminating taxes on tips for service and hospitality workers is being reignited after former President Donald Trump and Vice President Kamala Harris have come out in support ...