Posts tagged tax break
Senate unanimously approves $25,000 tax break for tipped workers
May 21, 2025 // There are stipulations in the new bill: an employee with compensation exceeding $160,000 in the prior tax year would not be eligible to claim the new tax deduction for tips. The bill is limited to cash tips received by occupations that are customarily tipped. "Tipped occupations" are jobs where tips are common in the U.S., such as waiters, waitresses and professionals providing beauty services like barbering, hair care, nail care, esthetics, body and spa treatments.
Op-ed: Gov. Newsom Pays Unions Back for Recall Rescue
September 15, 2022 // “The new budget passed by lawmakers in mid-June and signed by Governor Newsom two weeks later will take California’s existing tax deduction for union dues payments and turn it into a tax credit capped at 33% of dues paid,” Patrick Gleason, Vice President of State Affairs at Americans for Tax Reform, said in Forbes. “Changing the deduction to a credit makes the union tax break more generous and benefits those who don’t itemize or have a tax liability.”