"I'm here in Las Vegas for a conference where I just paid $7 for a cup of coffee and then was shamed into tipping another $1 to the server for pouring the coffee and handing it to me. Welcome to America. I feel like I'm tipping for everything, everywhere. And now it's only going to get worse. And for that I blame President Trump."
"What's frustrating is that the tax benefits for tipped workers are not only over-hyped, they're also temporary. Yes, workers can avoid getting taxed on their tips but not all workers (see below) and not all their tips. If you're eligible, you can deduct up to $25,000 of tip income each year and there are income limitations. Also, you won't see that benefit until you file your year-end tax returns."
"Also irritating is who's eligible. The treasury department recently published a list of about 50 types of workers who can claim the tipped-wages deduction. Unfortunately, I wasn't consulted. But if I were, then I would have been a little more particular. For example, I would never include digital content creators as eligible tipped workers. Really? Now we're tipping influencers? Like MrBeast needs more money? Given all the harm that social media has wrought on this world, it's probably be"
Tipping expectations are expanding across many transactions, increasing pressure on consumers. A recent tax change allows eligible tipped employees to deduct up to $25,000 of tip income annually, subject to income limits and expiration in 2028. The deduction provides benefits only at year-end filing and does not exempt social security and Medicare taxes. Many eligible workers earn too little to use the deduction. Treasury published a list of about 50 worker types eligible, including digital content creators, raising concerns about scope. The policy may reduce employer wage pressure while increasing consumer tipping expectations.
Read at www.theguardian.com
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