| |  | | July 30, 2025 | | | | | | | | How 'No Tax on Tips' Could Change Tipping Culture | By Keith Wagstaff
A new tax deduction on tips could turbocharge a tipping culture many Americans already feel is out of control. In fact, some analysts say the new tax break could have unintended negative consequences for both the tipper and the tippee. If you don't want to stiff hardworking waiters and baristas but feel exhausted by all the touchscreen tipping prompts, you're not alone. Here are some practical ways to cope with tipping fatigue — starting with preparation. | | | | | | | | | | The Silver Lining of High Interest Rates | | | By Lindsay Van Someren
Here's the funny thing about interest rates: They affect how much you pay to borrow money, but also how much you can earn by saving money. So if you don't need a loan, higher rates can actually be a good thing in many ways.
And that's the situation we're in right now. The Federal Reserve's benchmark interest rate is high — higher than it's been for most of the last two decades, with the exception of the past two years. Despite calls from the president to lower it, Fed officials aren't expected to change it at their meeting today, and it's unclear when they will. | | | | | | | |  | | Putting Venmo to good use: You can now use the payment app to help the government pay off its debt. (The Guardian via Yahoo Finance) | | | | | | | | | | | | Informed investment decisions start with informed insights. Here's what's making headlines:
🤖 Samsung will manufacture Tesla's (TSLA) next-gen AI chips as part of a $16 billion deal. The EV maker is betting on an all-in-one chip design that will ideally power everything from its driver assistance system to its humanoid robots. (TechCrunch)
📲 Big Tech earnings are on deck, with Apple (AAPL) and Amazon (AMZN) set to report tomorrow. Investors will be looking at AI expenses after Google (GOOGL) recently said that its capital expenditures will climb another $10 billion this year, reaching $85 billion. (Yahoo Finance)
🎨 Design software company Figma's IPO on the New York Stock Exchange this week could set the stage for other multibillion-dollar tech IPOs this year, including Canva's. (MarketWatch via MSN) | | | | | | | | | Intel, insights, and inspo for your money. | | On the Money cuts through the noise of day‑to‑day financial news to bring you a more thoughtful point of view on what's important in this moment — and how it impacts your bottom line. We value your trust above all. | | | | | | | | | | Did you find today's newsletter valuable? | | | | |
| | | | INVESTMENTS ARE NOT FDIC INSURED ‑ ARE NOT BANK GUARANTEED ‑ MAY LOSE VALUE | | SoFi members with Eligible Direct Deposit activity can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Eligible Direct Deposit means a recurring deposit of regular income to an account holder's SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder's employer, payroll or benefits provider or government agency ("Eligible Direct Deposit") via the Automated Clearing House ("ACH") Network during a 30-day Evaluation Period.
Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning 3.80% APY, we encourage you to check your APY Details page the day after your Eligible Direct Deposit arrives. If your APY is not showing as 3.80%, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning 3.80% APY from the date you contact SoFi for the rest of the current 30-day Evaluation Period. You will also be eligible for 3.80% APY on future Eligible Direct Deposits, as long as SoFi Bank can validate them.
Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi members with Eligible Direct Deposit are eligible for other SoFi Plus benefits.
SoFi Checking and Savings accounts are offered by SoFi Bank, N.A., Member FDIC. SoFi Credit Cards are issued by SoFi Bank, N.A. pursuant to license by Mastercard® International Incorporated.
Loans originated by SoFi Bank, N.A., NMLS #696891 (www.nmlsconsumeraccess.org). Equal Housing Lender.
Brokerage products offered through SoFi Securities LLC, member FINRA/SIPC.
Advisory services are offered through SoFi Wealth LLC, an SEC-registered investment adviser. Information as of July 2025 and is subject to change. Screen images simulated.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
In our efforts to bring you the latest updates on things that might impact your financial life, we may occasionally enter the political fray, covering candidates, bills, laws and more.
Please note: SoFi does not endorse or take official positions on any candidates and the bills they may be sponsoring or proposing. We may occasionally support legislation that we believe would be beneficial to our members, and will make sure to call it out when we do. Our reporting otherwise is for informational purposes only, and shouldn't be construed as an endorsement.
The information provided is general in nature and shouldn't be construed as a recommendation or solicitation of any products offered by SoFi's affiliates and subsidiaries. Additionally, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset.
SoFi Technologies, Inc. values your privacy and the security of your personal information so please do not include sensitive personal information, such as your Social Security number, in any email or letter that you send to us.
SoFi Technologies, Inc. 234 1st St., San Francisco, CA 94105
Unsubscribe | Privacy Policy | Licenses
© 2025 SoFi Technologies, Inc. All rights reserved.
w: 20250730 | | | |
No comments: