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 ...

Tucked away among the 940 pages of President Donald Trump’s massive One Big Beautiful Bill Act (OBBBA) are an array of new tax write-offs, exemptions that Trump promised to enact while running for a ...

The massive federal spending and tax bill, dubbed the Big, Beautiful Bill, was signed into law by President Donald Trump on July 4th. The bill includes tax breaks for tipped workers, such as those in ...

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 ...

Inflation is the monster in the closet for many investors, and that's why Treasury inflation-protected securities (TIPS) are objects of great interest lately. The government-guaranteed bonds are ...

The proposed tax break allows tipped workers to deduct reported tips from their earned income, potentially lowering their taxable income. The deduction applies only to cash tips and excludes noncash ...

A bipartisan bill that passed the U.S. Senate by unanimous vote on May 20 could mean no income tax on tips for bartenders and restaurant workers, as well as other occupations that rely heavily on ...

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.) ...

Nixing income taxes was one of President Donald Trump's top policy promises during his 2024 election campaign, and the idea has also been embraced by Democrats. The No Tax on Tips Act would introduce ...

The Senate unexpectedly passed the No Tax on Tips Act in a unanimous vote Tuesday, giving weight to the prospect of eliminating federal income tax on cash tips, which picked up political traction ...

The Senate on Tuesday passed a bill that would eliminate federal taxes on tips, advancing with the help of Democrats a top campaign promise of President Trump. Sen. Jacky Rosen (D-Nev.) brought 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 ...