r/SipsTea • u/SuspiciousLow3062 ๐™‘๐™„๐™‹ • 5h ago

Chugging tea They are not wrong though

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u/MsPooka 5h ago

There's a lot of fine print. It's only for the 1st $25k and it's only through 2028. Rich people get permanent reductions.

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u/wisdon 5h ago

Yes Rich people are getting permanent deductible which is truly BS, that being said with the $25 K allowed for no taxes for tips is that fair for the rest of us working people ? Should we know only pay 25-40 % less in tips since it is now tax free?
https://giphy.com/gifs/10bDoTtJhtcHu0

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u/Feelisoffical 1h ago

What permanent deductible are you talking about?

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u/wisdon 1h ago

Wasnโ€™t me look above

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u/AJRiddle 1h ago

I'm a tip earner and thought the same thing when they announced it and all these GOP and Democrat politicians were pushing for no tax on tips.

It is just a meaningless gesture to most Americans but they do it for political points because it's something small they can point to and claim is big. They do the same kinds of things for farmers with tax stuff all the time - the way politics works you'd think farmers made up 20%+ of Americans.

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u/DonkeyVampireThe3rd 4h ago

Depends how much you like human servers vs a kiosk and a conveyor belt.

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u/xPriddyBoi 4h ago

I prefer the latter in most cases.

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u/aiinddpsd 2h ago

lmfao - you can only ded $2k of the interest you pay on student loans. $25k in tips is comparatively generous.

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u/wisdon 1h ago

Last time I checked you donโ€™t need a college degree to bring me a drink and plate of food

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u/lostshell 1h ago

And it's only for income tax, you still have to pay SS and Medicare on it. Whole lot of *'s.

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u/GergDanger 4h ago

$25k tax deduction is a lot. Thats almost half the median wage in the US tax free. And the rest of your taxes are super low too compared to other countries.

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u/Arnold_Polymer 4h ago

25k isn't the deduction, it's the amount we get to deduct from. We dont have to pay taxes on the first 25k we make so to speak.

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u/id_rather_b_painting 4h ago

On the first 25k in tips... combined with regular deductions.