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Unfortunately tips are considered taxable income in the United States. A person will have to report any significant amount of tips that they receive on their tax return. An individual who receives a few cash tips probably won’t have to bother reporting t...

Every person who files a tax return is entitled to one personal tax exemption. The exemption should reduce a person’s tax burden and help them qualify for a tax refund. The only time you can claim a personal tax exemption is if a person claims you as a...