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IbogaProject

(4,986 posts)

18. I really hate these short term tax gimmicks

Reply to AverageOldGuy (Reply #9)

Fri Sep 5, 2025, 09:29 AM

Sep 5

They did this with the estate tax and it was zero estate tax in 2010, which meant no limit on certain estate tax limit forward tax deductions. The recent GOP budgets have eliminated or reduced many tax dodges still active for the wealthy who got in before but are now eliminated.

These short term tax break gimmicks are an anemetha.

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Workers in 68 jobs may soon be exempt from paying taxes on tips, Treasury says [View all] BumRushDaShow Sep 5 OP

More hacking at the foundations of civilization bucolic_frolic Sep 5 #1

My house is markodochartaigh Sep 5 #4

Maybe this moves the tip economy from cash to digital payments? bucolic_frolic Sep 5 #5

I think the move towards a digital economy is the biggest reason for this move actually. Ol Janx Spirit Sep 5 #19

I think this is how they won Nevada. Haggard Celine Sep 5 #2

Paying less into Social Security... LakeVermilion Sep 5 #3

I doubt that the people who got currency as the tip ever declared it anyway. LiberalArkie Sep 5 #13

However, tips that are collected by management (credit cards) and added to pay checks... LakeVermilion Sep 5 #23

No Tax on Tips: Law only applies to cash tips stuffmatters Sep 5 #6

I'm linking two documents that address new rules on Tip Income - the IRS Fact Sheet and a Kiplinger Article 24601 Sep 5 #10

Its not talked about because its not a limitation that you are thinking. DetroitLegalBeagle Sep 5 #11

This will hurt in the end Puppyjive Sep 5 #7

Social security and medicare tax is still paid DetroitLegalBeagle Sep 5 #12

Keep it simple. Yeah right. twodogsbarking Sep 5 #8

This benefit expires at the end of 2028 AverageOldGuy Sep 5 #9

I really hate these short term tax gimmicks IbogaProject Sep 5 #18

Wait-staffers who work for tips, because they're paid less than the minimum wage FakeNoose Sep 5 #14

I won't put tips on credit cards or in apple terminals mdbl Sep 5 #15

But raising the minumum wage will crash the economy. Just work until you die. twodogsbarking Sep 5 #16

I'm guessing that most don't earn enough to even be taxed at all. But this is the land of the free. twodogsbarking Sep 5 #17

Around a third of those eligible don't make enough, and some other fairly good percentage... Ol Janx Spirit Sep 5 #21

Bank suditors, food inspectors, athletic coaches, college admissions staff... bluedigger Sep 5 #20

Wonder if this list will include Supreme Court Justices republianmushroom Sep 5 #22