The tip deduction doesn’t completely eliminate taxes on tips. The deductible amount is limited, it isn’t available to every ...

Duke Tax provides essential tax advice for small business owners and creators through its Black-owned tax expert platform.

This week’s Tax Breaks newsletter also looks at fantasy football winnings, car-related tax deductions, stock options, IRS Chief Counsel nod, Taylor Swift tax, tax filing deadlines, and tax trivia.

Tipped workers will be able to deduct up to $25,000 in tips from their taxable income beginning in 2025. To help sort out the details, the Treasury and the IRS are rolling out additional guidance.

The Trump administration’s “No Tax on Tips” proposal would do more than make all tips income tax-exempt for servers. While this tax proposal promises to benefit servers, it’s more complex than that.

Tax changes signed into law in 2025 could bring bigger refunds this year. When does tax season start? When will refunds come?

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 ...