Experts: Why we tip, and why impact of eliminating taxes on tips would be minimal
Virginia TechEliminating taxes on tips — an idea supported by both major party 2024 presidential candidates — could benefit some service workers but the overall impact may not be that dramatic, says a Virginia Tech expert. There are roughly 4 million workers for whom tips make up a significant portion of their income. However, more than a third of those workers don’t earn enough to end up owing federal taxes.