‘No tax on tips’: Streamers and influencers included in the US Act; mid-level creators benefit

In a good news for digital content creators in the US, streamers and influencers can now claim tax deductions on tips. This new policy, under Donald Trump’s initiative, allows deductions up to $25,000. It benefits mid-level influencers and small streamers. The policy covers platforms like Twitch, TikTok, and YouTube. This change takes effect in 2024. However, the scheme is temporary and expires after 2028.