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When the U.S. Treasury released its preliminary list of 68 tipped occupations in August, many workers cheered, thinking they’d soon cash in on President Donald Trump’s newly enacted “no tax on tips” provision. But experts warn the reality may be more complicated than it seems.

The tax break—passed as part of Republicans’ so-called “big beautiful bill” in July—lets eligible workers deduct up to $25,000 of qualified tips annually from 2025 through 2028. The benefit phases out once modified adjusted gross income climbs above $150,000.

On paper, the Treasury’s list covers jobs that “customarily and regularly received tips” before the end of 2024. But a second filter could keep some workers from qualifying: the rules barring certain “specified service trades or businesses” (SSTBs) from the deduction. These SSTBs—first defined in Trump’s 2017 tax law—include fields like healthcare, financial services, legal professions, and the performing arts.

The Hidden Catch

That second test means not every tipped job on Treasury’s list will qualify. “A lot of people will be surprised to find out that not every single occupation…is actually going to be eligible,” said Ben Henry-Moreland, a certified financial planner with Kitces.com.

Tax pros note the final rules could come down to context: how a person is employed and who they work for.

• Same role, different outcomes. A self-employed esthetician may qualify for the tax break since they aren’t providing medical services. But if the same esthetician works inside a dermatology office, their tips would likely be disqualified because they’re part of a healthcare SSTB.
• Performers face gray zones. A lounge singer hustling solo as a contractor could be blocked under the “performing arts” SSTB. Yet that same singer, if employed by a casino or restaurant, might get the deduction because the employer isn’t classified as an SSTB.

“It’s not going to be as clear-cut as people think,” said Thomas Gorczynski, a Tempe, Arizona-based enrolled agent. “The key will be how Treasury structures the regulations to navigate these complexities.”

Waiting for Clarity

The Treasury must finalize its occupation list by October 2, and tax professionals expect further guidance on how SSTB restrictions will be applied. For now, the uncertainty leaves many tipped workers unsure whether they’ll truly benefit.

One thing is certain: this tax break, marketed as a straightforward win for service workers, may end up drawing some complicated lines—dividing who qualifies and who doesn’t, even within the same occupation.

Losing a job is stressful enough — but if you’re one of the 40 million Americans with student debt, the weight of monthly payments can make unemployment feel even heavier.

The latest jobs report from the Bureau of Labor Statistics offered little comfort: just 22,000 jobs were added in August, far short of expectations, while the unemployment rate climbed to 4.3%, the highest in nearly four years.

“The slowdown in job creation might make some recent college graduates and borrowers worried,” said higher education analyst Mark Kantrowitz.

With more than $1.6 trillion in outstanding student loan debt, millions are wondering how to keep up with payments during a rough patch. Experts say there are options — but knowing the right ones can make all the difference.

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1. Apply for an Income-Driven Repayment Plan

If you’ve been laid off or your income has taken a hit, federal student loan borrowers may qualify for an income-driven repayment (IDR) plan. These programs tie monthly payments to a percentage of your discretionary income — sometimes lowering them to as little as $0 per month.

Unemployment benefits are factored into the formula, but IDR payments are still likely far lower than what you’d owe with a steady paycheck. And if your income has recently dropped, you don’t have to wait until next year’s tax filing: you can submit proof of your current earnings instead, said Nancy Nierman of New York’s Education Debt Consumer Assistance Program.

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2. Pause Payments Through Deferment

Borrowers facing job loss may qualify for an Unemployment Deferment, which allows them to temporarily halt payments while actively seeking work or collecting unemployment benefits. Some loans will still accrue interest during this time, but others won’t.

There’s also the Economic Hardship Deferment, designed for those receiving public assistance or living on very low incomes. Usage of this option has doubled in just the past year, Kantrowitz noted.

Both deferment programs typically cap at three years over a borrower’s lifetime. Starting in July 2027, new student loan borrowers won’t have access to these deferments at all, though current borrowers will still qualify.

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3. Consider Forbearance if Deferment Isn’t Available

If you don’t qualify for deferment, forbearance may be another way to pause payments. But here’s the catch: in most cases, interest will continue to add up, increasing your total balance when repayment restarts. To avoid ballooning debt, experts suggest covering at least the monthly interest if you can.

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4. What If You Have Private Loans?

Relief options are more limited with private student loans. Still, experts advise being proactive: contact your lender as soon as you lose your job. Many private lenders have hardship programs or temporary payment relief, but you usually need to ask.

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The Bottom Line

Being unemployed while carrying student loans can feel overwhelming, but you’re not without tools. Whether through an IDR plan, deferment, or a temporary pause from your lender, there are ways to ease the burden until you’re back on your feet.

“Even if your payment drops to zero, staying in touch with your loan servicer keeps you in good standing — and avoids bigger problems down the line,” said Kantrowitz.

Caffeine isn’t the only thing spiking in your cup lately — the price of coffee itself is climbing to record highs.

In July, U.S. shoppers paid an average of $8.41 per pound for ground roast coffee, a 33% jump from last year and the highest price ever recorded, according to the Bureau of Labor Statistics. Globally, coffee prices are hovering near the half-century peak reached earlier this year.

Behind the sticker shock: volatile weather, depleted inventories, and new trade policies that are rattling the global coffee market.

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Weather Woes and “Precipitation Whiplash”

Brazil, which produces about 40% of the world’s coffee, is at the center of the storm. A severe drought last year slashed harvests, followed by intense rainfall that further damaged crops. Analysts call this pattern “precipitation whiplash” — wild swings between too dry and too wet that stress coffee plants and diminish both yield and quality.

Vietnam, the second-largest producer, has fared no better, with drought cutting production by 20% in 2024 before torrential rains added to the chaos. “Your standard season isn’t as it should be,” said Cornell professor Mike Hoffmann. “The plants are battered, and the beans suffer.”

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Shrinking Stockpiles, Rising Risks

As prices rose, companies like Starbucks tapped into their existing stockpiles instead of buying costly beans. But inventories are now “significantly below historical levels,” Bernstein analysts noted — making the market more vulnerable to new supply shocks. When supplies are thin, even minor disruptions can trigger major price surges.

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What It Means for Coffee Lovers

For everyday drinkers, the impact depends on where you buy. Grocery store coffee is closely tied to commodity costs, so prices at the supermarket may swing more sharply than what you’ll see at your local café. Chains like Starbucks can absorb some of the hit, with analysts estimating that even with 50% tariffs on Brazilian beans, menu prices would rise by 0.5% or less.

Still, over the long term, consumers should expect higher-than-average prices. Climate change is reshaping growing seasons, extreme weather events are becoming more common, and global demand for coffee keeps climbing.

“The prices will continue to go up, in my mind,” Hoffmann said. “Climate change isn’t going away — and it’s not just coffee, it’s the entire food supply.”

After a rocky start to the year, retirement savers are breathing a little easier. New data from Fidelity Investments, the nation’s largest 401(k) provider, shows that balances rebounded sharply in the second quarter, fueled by both strong market performance and steady saving habits.

The average 401(k) balance climbed to $137,800, an 8% increase from a year ago and the highest level on record. Meanwhile, the average IRA balance rose 5% year-over-year to $131,366.

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Millionaire Accounts Break Records

The rebound has minted more retirement millionaires than ever before. Fidelity reported that:

• The number of 401(k) accounts with $1 million or more jumped 16% from the previous quarter, hitting 595,000.
• The number of IRA millionaires also rose 16%, reaching a record 501,481.

“This is a great reminder of the power of consistency,” said Mike Shamrell, Fidelity’s vice president of thought leadership. “Savers who continued contributing, even when markets dipped, are now reaping the benefits.”

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Savers Stayed the Course

Despite the volatility triggered earlier this year by White House tariff announcements — which sent the S&P 500 to some of its worst trading days since the early days of Covid — most retirement savers didn’t panic.

The average 401(k) contribution rate, which combines employer and employee deposits, held steady at 14.2%, just shy of Fidelity’s recommended 15% target. That discipline, paired with the market rebound, set investors up for record growth.

As of mid-September:

• The S&P 500 is up about 10% year-to-date.
• The Nasdaq has gained more than 11%.
• The Dow Jones Industrial Average has advanced roughly 6%.

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Long-Term Investors Are Winning

“Markets have shown remarkable resilience despite volatility,” said Tim Maurer, chief advisory officer at SignatureFD and a member of CNBC’s Financial Advisor Council. “And history tells us that any asset class with a positive rate of return will eventually hit new highs.”

The lesson? For retirement savers, the strategy remains simple but powerful: keep contributing, stay invested, and let the markets do their work over time.