Veserr@sh.itjust.works to World News@lemmy.worldEnglish · 1 day agoWorld Cup fans frustrated by 'confusing and expensive' tipping culture in USwww.bbc.comexternal-linkmessage-square95linkfedilinkarrow-up1214arrow-down15
arrow-up1209arrow-down1external-linkWorld Cup fans frustrated by 'confusing and expensive' tipping culture in USwww.bbc.comVeserr@sh.itjust.works to World News@lemmy.worldEnglish · 1 day agomessage-square95linkfedilink
minus-squaretias@discuss.tchncs.delinkfedilinkEnglisharrow-up5·1 day agoHold on. Is there no tax on the tip?
minus-squarefrongt@lemmy.ziplinkfedilinkEnglisharrow-up4arrow-down1·1 day agoAs of last year, for the most common scenarios, yes, up to $25,000. https://www.fidelity.com/learning-center/personal-finance/no-tax-on-tips
minus-squaretias@discuss.tchncs.delinkfedilinkEnglisharrow-up2·8 hours agoWell that explains why it’s so prevalent
minus-squarearchitect@thelemmy.clublinkfedilinkEnglisharrow-up1·2 hours agoWhats prevalent? Tips have been included in everything since covid.
minus-squareteyrnon@sh.itjust.workslinkfedilinkEnglisharrow-up3arrow-down1·1 day agoOnly as of the bill last year the president passed, but that no tax on tips, a campaign pledge, is temporary and will expire. I think after this year.
minus-squareUnrefinedChihuahua@lemmy.dbzer0.comlinkfedilinkEnglisharrow-up2·1 day agoOnly if the server reports it as income (in Canada, at least).
minus-squareteyrnon@sh.itjust.workslinkfedilinkEnglisharrow-up2arrow-down1·1 day agoAlmost all tips are by credit card now in the US so most all of them you can’t underreport for taxes anymore.
Hold on. Is there no tax on the tip?
As of last year, for the most common scenarios, yes, up to $25,000. https://www.fidelity.com/learning-center/personal-finance/no-tax-on-tips
Well that explains why it’s so prevalent
Whats prevalent? Tips have been included in everything since covid.
Only as of the bill last year the president passed, but that no tax on tips, a campaign pledge, is temporary and will expire. I think after this year.
Only if the server reports it as income (in Canada, at least).
Almost all tips are by credit card now in the US so most all of them you can’t underreport for taxes anymore.
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