great information for tip makers,Filing Unreported Tips Many employers use the 8 percent of sales receipts guideline as a rule of thumb and leave the reporting of actual income to the discretion of their wait staff. In some cases, server credit card tips alone exceed the 8 percent minimum and the restaurant owner is in the clear. However, by law, all waitresses are required to report all tip income that exceeds the 8 percent deducted by employers. Servers with unreported tip income must include a completed form 4137 with their federal tax return and may have to pay additional Social Security and Medicare taxes. Read more : ehow/info_12021486_tip-claiming-waitresses-taxes.html
Posted on: Thu, 07 Aug 2014 13:00:09 +0000
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