Don't Forget Uncle Sam When You're Counting Your Tips
If you're in the service industry, a big chunk of your income may come from tips. But don't think you can get away with not filing taxes for them. Here are a couple of tips from the IRS: Tips are taxed. Your tips will face federal income, Social Security, and Medicare taxes. You will also be taxed on nonmonetary tips like tickets, and gifts will be counted as income. Include them on your tax Read more









