# @turbotax on TikTok

- **Type:** Video
- **Original URL:** https://www.tiktok.com/@turbotax/video/7532669091945958686
- **Gondola URL:** https://gondola.cc/posts/37753305-turbotax-tiktok
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/a217b722db.jpg
- **Posted:** 2025-07-30T00:43:22.000+00:00
- **Account Owner:** Intuit TurboTax (@turbotax) — https://gondola.cc/turbotax

## Caption

Our tax expert breaks down what no tax on tips actually means for workers and their finances.⁠ ⁠ If you earn tips as a waitress, barista, or in another tipped occupation and your income is below $150,000, you may be eligible to claim this deduction.  ⁠ This tax benefit begins to phase out for incomes above $150,000.  This deduction doesn’t directly reduce your taxes dollar-for-dollar, and your actual tax savings will depend on your tax rate. ⁠ ⁠ For example, if you earned $5,000 in tips and are in the 12% tax bracket, your tax savings would be $600 ($5,000 x 12%).⁠ ⁠ 🔗 More deets at the link in bio. #NoTaxOnTips #BigBeautifulBillExplained #Tipping #TaxTips

## Stats

- **Views:** 2,921
- **Likes:** 34
- **Shares:** 15
- **Comments:** 4

## Tags

bigbeautifulbillexplained, tipping, taxtips, notaxontips

---
Copyright (c) Gondola