Podcast: "Big, Beautiful" Changes, Pt. 1: No Tax on Tips [More with McGlinchey, Ep. 80]

McGlinchey Stafford
Contact

McGlinchey Stafford

True to President Trump’s campaign promise, the “one big, beautiful bill” allows a limited deduction for tip income, but the mantra “no tax on tips” is not quite accurate. In this episode, McGlinchey Tax attorney Douglas Charnas (Washington) and McGlinchey Employment attorney Susan Desmond (New Orleans) discuss the new employee deduction for tips and employers’ reporting responsibilities for these deductions.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. Attorney Advertising.

© McGlinchey Stafford

Written by:

McGlinchey Stafford
Contact
more
less

What do you want from legal thought leadership?

Please take our short survey – your perspective helps to shape how firms create relevant, useful content that addresses your needs:

McGlinchey Stafford on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide