As employers are sending out tax info, many New Yorkers are getting ready to file their 2025 tax returns. The 'One Big Beautiful Bill' offers some tax relief for certain New Yorkers. Tip workers are now able to deduct $25,000 in tips from their taxable income each year. What New Yorkers Need To Know About No Tax On TipsAccording to IRS.gov, employees and New Yorkers who are self-employed can deduct tips. Deductions can be deducted from qualified tips included on Form W-2, Form 1099-NEC, Form 1099-MISC, Form 1099-K, or Form 4137.