Why Trump Tax Deductions — for Tips, Car Loans and More — May Not Carry Large Benefits for Low Earners

Murkowski roasted as megabill she didn't want as 'final product' heads to Trump

With President Donald Trump's megabill of tax cuts, health care cuts, and deportation funding passed and headed to his desk, a fresh wave of anger and mockery has been directed at Sen. Lisa Murkowski (R-AK), the key undecided vote who ultimately helped the bill clear the Senate.At the time, Murkowsk...

CNBC: Why Trump Tax Deductions – For Tips, Car Loans and More – May Not Carry Large Benefits for Low Earners

How much money you save with tax deductions, which reduce your taxable income, depends on your bracket. Deductions are more valuable to higher-income households and less beneficial for lower earners, experts said.

Trump's 'no tax on tips' is getting close to the finish line. Here's how it will work.

The Senate narrowly approved Trump's tax bill, which includes a provision that would make his “no tax on tips” campaign promise a reality.

US restaurant workers say ‘no tax on tips’ undermined by benefits cuts

Restaurant workers point out that new work requirements don’t account for the unstable hours inherent in food service.

Trump’s bill ends tax on tips. Here’s how other countries tax them.

The U.S. is an outlier on tips. President Donald Trump’s tax bill would allow workers to deduct them from federal taxes.

Why Trump tax deductions — for tips, car loans and more — may not carry large benefits for low earners

Republicans are trying to create tax deductions for tips, car loan interest and overtime pay. Experts say they wouldn’t benefit low earners much.