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Katherine Green, a dominatrix who creates online adult videos, wasn’t expecting a windfall from President Donald Trump’s signature push to make tips tax-free.The Houston-based OnlyFans Ltd. creator, who goes by the title Mistress professionally, is not a waitress, a rideshare driver or a golf caddy — professions typically associated with tipping. But new Treasury Department guidelines on Trump’s tax law include digital content creators like Green on the break.”It’s really exciting news. It was a surprise,” said Green, who now hopes to get “a decent-sized tax break.”The inclusion of online content creators, such as podcasters and social media influencers, promises…

Accounting firms are reporting strong growth in revenue, along with continuing increases in staff compensation, including for entry-level accountants, according to a new survey from the American Institute of CPAs.The AICPA’s 2025 National Management of an Accounting Practice Survey includes responses from CPA firms of all sizes. They reported a median 6.7% increase in total net client fees (firm revenue) for fiscal year 2024 compared to the 2023 MAP survey, which reported a median growth rate over the prior year of 9.1%. Firms reported growth in revenue from audit and assurance as well as tax services. They also saw continuing growth…

A significant proportion of people are following financial advice given to them by AI models, and many reported losing $100 or more from the advice. That’s according to a recent survey from Pearl.com, an AI professional service platform, which found, among other things, that 20% of people have acted on financial advice given to them by AI, and 19% of people reported losing $100 or more due to following this advice, a number that jumps to 27% when considering only those from Gen Z. A spokesperson from Pearl, in an email, said it was up to the individual respondent to determine…

The “big, beautiful bill” signed into law by President Trump in July provides a bevy of new tax cuts and deductions that could lower taxes for millions of Americans, according to a recent analysis from the Tax Foundation.The typical filer could see a tax cut of $3,752 in 2026, the nonpartisan think tank found. But the impact will also vary geographically, with some residents in some states likely receiving a bigger tax benefit than others under the new law, Garrett Watson, director of policy analysis, told CBS MoneyWatch. For instance, the biggest average cut will go to residents of Wyoming, with…

No tax on tips: What workers should know No tax on tips: What workers should know 01:45 The Republican-backed fiscal package signed into law by President Trump on July 4 includes a temporary tax break that stands to benefit millions of Americans: a provision that allows eligible workers to avoid paying federal income tax on tips.The “big, beautiful bill,” as the legislation was dubbed, tasked the Trump administration with publishing a list of occupations that qualify for the tax break within 90 days of the bill’s passage. Now, the Treasury Department has issued that list, which includes 68 occupations ranging from…

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Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldDonald Trump’s tariff drive will cut US deficits by $4tn over the coming decade, according to Congress’s fiscal watchdog, helping to offset concerns that the president’s tax bill will worsen the country’s public finances.The Congressional Budget Office said on Friday that tariffs announced so far this year would reduce primary deficits by $3.3tn over the period to 2035, while interest payments would fall by an additional $700bn.“As a result, the changes in tariffs will reduce total deficits by $4tn altogether,”…

How Trump budget law will impact green energy How Trump’s budget law will impact green energy in the U.S. 08:06 The window to take advantage of clean energy credits is running out. After three years, the sun is setting on a series of tax credits aimed at lowering the cost of buying electric vehicles, as well as installing solar panels, heat pumps and other clean energy technologies in your home. That’s because, in July, Congress passed President Trump’s sweeping budget package, known as the One Big Beautiful Bill Act, which phases out the Biden-era clean energy subsidies earlier than originally outlined in the Inflation Reduction…

‘The Big Money Show’ panel discusses President Donald Trump’s plan to remodel Jerome Powell’s Federal Reserve. President Trump has decided to remove Billy Long from his role as commissioner of the Internal Revenue Service (IRS), with the former lawmaker announcing Friday that he will be taking on a new role as U.S. Ambassador to Iceland. “It is a honor to serve my friend President Trump and I am excited to take on my new role as the ambassador to Iceland,” Long posted to X Friday afternoon. “I am thrilled to answer his call to service and deeply committed to advancing…

For some, retirement means relaxation. For Jordan Hendrickson, retirement means debt.”I don’t have any retirement savings,” Hendrickson, 54, told Business Insider. “I don’t see any other way than working up until my last day.”Hendrickson received her doctorate in psychology in 2013, bringing her total student-loan balance to about $350,000, including what she borrowed for her bachelor’s and master’s degrees. While she qualified for Pell Grants, which are awarded to low-income students, Hendrickson turned to federal loans to help cover the remaining costs.She now works two jobs, as a telehealth provider for a mental health company and on the mobile support…