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Tips FICA Taxes Employment Tax

McGlinchey Stafford

Is a “Tip” Paid in Cryptocurrency a Tip for Employment Tax Purposes?

McGlinchey Stafford on

Tips are in the news lately. It seems like political strategists on both sides of the aisle have concluded that excluding tips from taxable income is good for votes. One has to wonder if this political promise will go the way...more

McGlinchey Stafford

Reporting Cash Tips to the IRS [More with McGlinchey, Ep. 24]

McGlinchey Stafford on

In restaurants, the wait staff, bartenders, and bussers are required to report their tips, including cash tips, to the restaurant and the IRS. Even if those cash tips aren’t reported to the restaurant, since tips are income...more

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