Episode 29: Big Beautiful Bill - H.R.1 No Tax On Tips

In this episode of Full Throttle Finance™, we unpack one of the most talked-about tax provisions in the H.R. 1 bill—the No Tax on Tips Act. This new deduction allows eligible workers to deduct up to $25,000 in reported tips from their taxable income between 2025 and 2028.

Felicia and Alli break down:

Who qualifies for the tip deduction
What types of tips count (and what doesn’t)
New IRS compliance rules and reporting changes
Why beauty industry employers come out ahead
Income phase-outs and why this benefit isn’t permanent

Whether you’re a tipped worker, business owner, or tax-curious listener, this episode explains what the “big beautiful bill” could mean for your paycheck—and your payroll.