some say 15%, others say you have to claim 100% of tips, but when you claim everything then you end up with no paycheck.
2006-07-14 12:52:27 · 7 answers · asked by Anonymous in Business & Finance ➔ Careers & Employment
that is all cash, now how tips work is that it still has to equal 6.50 an hour, so you can report what ever you want if you don;t make tips you should get a check for that so if you work 40 hours at minimum wage is 260.00.
tips+wages=6.50 an hour so turn in what you want
I own a restaurant so take it from me when they say all the have to pay is 2.25 an hour they are lying
2006-07-14 13:04:45 · answer #1 · answered by jmatt_inc 3 · 2⤊ 0⤋
According to the IRS, you are required to report all of your income. In the case of tips, which are considered income, since your taxes aren't taken out before you get them, you are expected to pay the government the tax that wasn't withheld on all gratuity income during tax season.
Which is why many people only report a certain percentage of their tips, not the whole amount.
2006-07-14 13:04:01 · answer #2 · answered by Woz 4 · 0⤊ 0⤋
The IRS says 100% should be reported.
2006-07-14 12:56:19 · answer #3 · answered by williegod 6 · 0⤊ 0⤋
100%.
2006-07-14 12:59:21 · answer #4 · answered by kraus56 2 · 0⤊ 0⤋
I don't know, but I do know that if you loose your job and want unemployment, the less you claim, the less unemployment you will get.
2006-07-14 12:55:44 · answer #5 · answered by Anonymous · 0⤊ 0⤋
don't report your tips.... but split with the help to get good karma
2006-07-14 12:58:57 · answer #6 · answered by MasWorks_com 2 · 0⤊ 0⤋
Keep as much as you can
2006-07-14 12:56:44 · answer #7 · answered by Track Walker 6 · 0⤊ 0⤋