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Home Market Research Markets

Tip Income Tax Break Could Cost Workers More Than It Saves

by TheAdviserMagazine
4 months ago
in Markets
Reading Time: 1 min read
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Tip Income Tax Break Could Cost Workers More Than It Saves
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A new Republican proposal to eliminate federal taxes on tips could reshape how millions of Americans are paid — and not just those who work for tips. The Senate Finance Committee just unveiled its version of the so-called “no tax on tips” plan as part of a sweeping tax package, CNBC reports. While it shares DNA with a House bill passed in May, the Senate version differs in key ways — and those…



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