Tip Tax Credit

Does your business have employees who get tips? You may qualify for a tax credit

Federal Tax Credit, FICA, Restaurant Owners, Small Business Tax Tips, Small Business Tips, Uncategorized / Douglas Freeman

If you’re an employer with a business where tipping is routine when providing food and beverages, you may qualify for a federal tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income. Credit fundamentals. The FICA credit applies to tips that your staff members receive from customers […]

Does your business have employees who get tips? You may qualify for a tax credit Read More »

Businesses with employees who receive tips may be eligible for a tax credit

Employees, Federal Tax Credit, Federal Taxes, Small Business, Social Security & Medicare (FICA) taxes, Tip Tax Credit / Douglas Freeman

If you’re an employer with a business where tipping is customary for providing food and beverages, you may qualify for a federal tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income. Basics of the credit. The FICA credit applies with respect to tips that your employees

Businesses with employees who receive tips may be eligible for a tax credit Read More »