Quote:
Originally Posted by Bill14564
How much impact will the deduction for tips actually have?
Not looking for an answer about getting to deduct up to $25,000 in tips. Wondering what the correct percentage to tip will be when the servers will not have to pay taxes on a portion of their tips. Save me the trouble of doing the math.
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I asked AI for the answer for three waitress. One makes $50,000 a year; one makes $75,000, and one makes $125,000.
Summary of Tax Savings
- Waitress 1 ($50,000): Saves $2,946.50
- Waitress 2 ($75,000): Saves $4,077.50
- Waitress 3 ($125,000): Saves $5,618