The tax break on tip income is not automatic. You need to file a new form. The U.S. Treasury Department has a list of dozens of occupations that 'customarily and regularly received tips' that qualify ...

The IRS has released new guidance to help taxpayers who are eligible to claim the deduction for tips and for overtime compensation for tax year 2025. (The guidance to help employers and other payers ...

Some people - and I will admit I am one of them - just do not like getting compliments. But often immediately deflecting praise or trying to brush it off can end up hurting the feelings of the person ...