A bill introduced in the Senate (H.R. 8785) would eliminate the income tax on cash tips through a deduction. The deduction would be allowed whether or not the standard deduction is used (i.e., no itemizing required). Small tips would also be exempt from employment taxes. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
Subscribe and download our eBook, "150+ Tax Deductions for Small Business A to Z."
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It's important to take care of ourselves and take steps to nourish ourselves--body, mind and soul. We may have to do this in different and creative ways now that many of us are staying at home. It's still important that we take time for ourselves. #selfcare #Health