New Tax Deductions for Tipped Workers & Seniors
Kansas City News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
With the tax deadline looming, two new deductions offer significant savings for tipped workers and seniors. Tipped employees can now shield up to $25,000 in voluntary tips from federal taxes, while seniors can enjoy an additional bonus deduction. However, both require meticulous record-keeping and understanding of income caps. These benefits are available until 2028, so its crucial to plan ahead and review your records before filing.
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