Have Employees Who Receive Tips? Here Are The Tax Implications

Many businesses in certain industries employ individuals who receive tips as part of their compensation. These businesses include restaurants, hotels and salons. Here are some key things to know regarding taxes on cash tips. Tip Definition Tips are optional payments that customers make to employees who perform services. They can be cash or noncash. Cash … Continue reading “Have Employees Who Receive Tips? Here Are The Tax Implications”