As a refresher, one of the new tax rules to come in to play for 2025, is a deduction of up to $25,000 on tip income. I'm not going to get in to ALL the details of this new rule at this time, but I wanted to point out that a preliminary list of the occupations that qualify for this deduction has been issued fairly recently. The occupations listed are supposed to capture all that customarily receive tips. You can not start categorizing any pay as tips when it never has been

This post is geared towards my current clients, and of course I will be communicating more formally about it in my upcoming service...

I often ponder why the tax law makers have to make things so bizarre and difficult. One of these head-scratchers is in the July tax bill...

Happy 4th ! You may be tired of hearing about the "Big Beautiful Bill" that has been tossed around for a while and was just signed today....