Tag: tips
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IRS Final Regulations Clarify the Qualified Cash Tips Deduction
The IRS finalized rules for the qualified cash tips deduction, clarifying eligible occupations, voluntary tips, manager rules and anti-abuse standards.
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Reducing your payroll burden with FICA tip credit
This valuable tax break helps hospitality businesses offset payroll tax costs for tipped employees, yet it’s often underused. Learn how to calculate and claim this dollar-for-dollar credit to reduce your tax burden and maximize savings.
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IRS Form 8027: What restaurant owners need to know
Learn the guidelines and calculations to determine if your restaurant is required to file IRS Form 8027, and get tips to avoid any compliance issues.