{"id":1154,"date":"2013-02-28T14:06:48","date_gmt":"2013-02-28T19:06:48","guid":{"rendered":"http:\/\/hoorfarlaw.com\/blog\/?p=1154"},"modified":"2013-02-28T14:06:48","modified_gmt":"2013-02-28T19:06:48","slug":"important-reminders-about-tip-income","status":"publish","type":"post","link":"https:\/\/hoorfarlaw.com\/blog\/?p=1154","title":{"rendered":"<a href=http:\/\/www.hoorfarlaw.com>Important Reminders about Tip Income<\/a>"},"content":{"rendered":"<p><a href=\"http:\/\/hoorfarlaw.com\/blog\/wp-content\/uploads\/2013\/02\/tips.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-thumbnail wp-image-1155\" title=\"tips\" src=\"http:\/\/hoorfarlaw.com\/blog\/wp-content\/uploads\/2013\/02\/tips-150x150.png\" alt=\"\" width=\"150\" height=\"150\" \/><\/a><\/p>\n<p>If your pay from your job includes tips, the IRS has a few important reminders about tip income:<\/p>\n<ul>\n<li><strong>Tips are taxable.<\/strong> Individuals must pay\u00a0federal income tax on any tips they receive. The value of non-cash tips,\u00a0such as tickets, passes or other items of value are also subject to income\u00a0tax.<\/li>\n<li><strong>Include all tips on your\u00a0return.<\/strong>\u00a0You must include all tips that you receive during the year on your income\u00a0tax return. This includes tips you received directly from customers, tips\u00a0added to credit cards and your share of tips received under a\u00a0tip-splitting agreement with other employees.<\/li>\n<li><strong>Report tips to your\u00a0employer.<\/strong> If you receive $20 or more in cash tips in any one month, you must report your tips for that month to your employer. Your employer is required to\u00a0withhold federal income, Social Security and Medicare taxes on the reported tips.<\/li>\n<li><strong>Keep a daily log of tips.<\/strong> You can use IRS Publication 1244, Employee&#8217;s Daily Record of Tips and Report to Employer, to record your tips.\n<p>Courtesy of the Internal Revenue Service.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>If your pay from your job includes tips, the IRS has a few important reminders about tip income: Tips are taxable. Individuals must pay\u00a0federal income tax on any tips they receive. The value of non-cash tips,\u00a0such as tickets, passes or &hellip; <a href=\"https:\/\/hoorfarlaw.com\/blog\/?p=1154\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[146,16,184,216],"class_list":["post-1154","post","type-post","status-publish","format-standard","hentry","category-general","tag-internal-revenue-service","tag-irs","tag-tax-season","tag-tips"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/1154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1154"}],"version-history":[{"count":2,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/1154\/revisions"}],"predecessor-version":[{"id":1157,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/1154\/revisions\/1157"}],"wp:attachment":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}