If I hear about him “abolishing tax on tips” again I’m gonna lose my mind
He’s gonna abolish tax on tips
Firstbof all no he absolutely is not second of all most people don’t pay taxes on their tips already.
He might abolish tax on tips if the law is written in a way that billionaires can “tip” each other
Or he’ll just eliminate tips I’m pretty sure that’s his plan to get rid of tax on overtime pay.
would be curious to know the stats on tips being paid on a card vs tips being paid in cash. I don’t see or use a lot of cash anymore, especially since covid. though cash is pretty invisible, so collecting that data would be impossible.
when people get tipped out on credit card transactions, I would assume that is reported as income via the restaurant/bar/etc. if so, my from the hip shit is that a lot of tips are taxed.
it’s definitely something my hospitality pals complain about, though none of them are chuddy lol and aren’t expecting any fix there.
When I waited tables like 20 years ago, credit card tips were already around half of my tips. The places I worked, it was all tied into the computer, so when you cash out and it asks you how much you made in tips, the credit card tips were already filled in. I bet it’s more like 95% cards now.
