The Problem with No Tax on Tips

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ABOUT JASMINE DILUCCI, JD, CPA, EA

Jasmine DiLucci has specialized in tax since high school when she first became licensed to represent taxpayers before the IRS.

Now as a tax attorney and CPA, she works with individuals and business owners across the nation to on Tax Planning, CFO Advisory, and IRS Tax Resolution

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Disclaimer: This information on this channel is for educational purposes only and does not constitute professional legal or tax advice.

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[kemsatofficial]

“We at Boeing tipped our CEO $50 million, non-taxable, for their outstanding service.”
I’m guessing that would be more why something like this would pass.

[calebandrew]

I could listen to this woman talk about taxes all day

[thedevilsadvocate]

Yup, as business owner, I'm only allowing tips as payment for my products and services and I'm only going to pay myself in tips.

[jeremypeterson]

It's perverse to tax us the way they do already.

[CptUSMC]

But like you said, many code sections are restricted to specific industries, so it can easily be written to be restricted to restaurants … or locations where food is prepared and served for immediate consumption.

[tl]

Realtors making 3% tips on every transaction

[kidfunkyfri]

I always tip in cash because I hope they don't claim it on their taxes

[JManalan]

I appreciate your insights. I really appreciate the perspective you provide on tax law from a "cause and effect" point of view.

[KK-pmud]

I love how you drew attention to the real estate lobby. They are a big part of why real estate costs are so high today. The government really needs to revisit real estate tax policy and figure out what they are trying to achieve with these tax rules.

[ec]

Pretty much the only tax cut I'm against. Get rid of the tipping system. This would heavily incentivize using tipping in more ways and places than ever

[jamesmcmath]

We only started taxing tips in 1982. It seemed fine before

[ImARealHumanPerson]

To clarify for those who clearly don't understand the difference here. Opinions arem't facts. This was an opinion video.

[AllAnonymous]

It’s perverse how we’re taxed already. What happened to protesting a 1% tax

Founding Fathers didn’t even think they needed to place a cap on taxes and thought it was insane to consider that people would ever accept anything near a 10% tax

Also, freedom necessarily means less security, and the fact that some people would abuse this freedom is not a reason to hold the rest of us back

[NA-hilx]

Since tips are condidered taxable, I don't feel compelled to be paying somebody else's wages without being able to deduct it as an expense!

Tips are supposed to be gifts. Period!

[Bigcity_]

🙏🏽🙏🏽🙏🏽 you're awesome keep doing these shorts

[abigailhodges]

As a teacher, I really appreciate all of the parents and property owners who tip me when teaching their kids.

[leonlamar]

The real abuse is what the restaurant owners have been enjoying for far too long and that's the huge tax free subsidy being burdened by customers. The real crime and area of another abuse is that owners steal those tips from servers and hand them out to many other employees they are responsible for paying. Restaurant tips aren't guaranteed and shouldn't be considered as a guaranteed income. All restaurant owners should be required to pay a full salary or hourly wage to all of their workers.

[RickHamilton-nkpi]

I understand it may be hard to do this, but I think it should be done to help people out. I am sure someone could figure out a way to not allow a $50M dollar bonus as a tip.

[ShawnSmith-kkjz]

The no tax on tips was proposed decades ago and has not been enacted yet, so she is probably correct

[podawe]

I'm all for cutting taxes but tbh I already have such tip fatigue I just hope it wouldn't cause it to get worse