FICA stands for Federal Insurance Contributions Act; it’s the federal payroll tax. A total of 7.65% of your gross wages goes to federal taxes. Your employer matches these percentages ...

The U.S. Senate unanimously passed the "No Tax on Tips Act," a bill that would create a tax deduction on tips worth up to $25 ...

Under the bill, employees would be eligible for an annual income tax deduction of $25,000 for some types of cash tips.

If you are an employee whose salary is partially comprised of tips, you will want to pay attention to the latest bill that ...

A bipartisan bill passed the U.S. Senate on May 20 that could mean no income tax on tips. Here's how No Tax on Tips affect ...

The Senate unexpectedly passed the No Tax on Tips Act in a unanimous vote Tuesday, giving weight to the prospect of ...

Having employees in multiple locations means managing ... t have a state income tax at all. Meanwhile, employees based in Washington are subject to an entirely unique payroll tax that goes towards ...

"Whether it passes free-standing or as part of the bigger bill, one way or another, no tax on tips is going to become law and give real relief to hard-working Americans," Sen. Ted Cruz, R-Texas., said ...

Trump’s economic package is coming up for debate in the House. Among the tax cuts is a plan to exempt tips from federal income taxes.

Here’s what to know about the U.S. federal tax. FICA stands for Federal Insurance Contributions Act; it’s the federal payroll tax. A total of 7.65% of your gross wages goes to federal taxes. Your ...