submitted 3 months ago by plinky@hexbear.net to c/chapotraphouse@hexbear.net

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[-] dead@hexbear.net 13 points 3 months ago

The 'No Tax on Tips' tax deduction is capped at $25,000 per year.

[-] WrongOnTheInternet@hexbear.net 5 points 3 months ago

How does it interact with state and local taxes in the US?

[-] LanyrdSkynrd@hexbear.net 5 points 3 months ago

You still have to pay state and local income tax on tips.

[-] WrongOnTheInternet@hexbear.net 5 points 3 months ago

Not much incentive to report then, unless you need to prove it for a loan or something

Now a tax offset..

[-] plinky@hexbear.net 3 points 3 months ago

Ah, less space for full on shadow economy stuff. Where did I get 100k ballpark number from in my head:(

[-] pierre_delecto@hexbear.net 5 points 3 months ago

I think there's a phase-out that happens around that level of total income maybe?

this post was submitted on 02 Sep 2025

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