Trump’s Tip Tax Promise: The Fine Print Reveals a Limited Benefit
No tax on tips. It sounds simple, right? Almost too good to be true. And, as it turns out, that’s because it was. The promise, a shiny bauble dangled before a hungry electorate, came with a hefty dose of “fine print,” transforming a seemingly straightforward proposition into a complex and, for many, disappointing reality.
The devil, as they say, is in the details. In this case, the details revealed that the “no tax on tips” pledge wasn’t a complete exemption. Instead, it was capped at a specific income level, meaning that those whose earnings exceeded a certain threshold would still be subject to taxation on their tips.… Continue reading
Matt Underwood