is tip income taxable Archives

Tip Income is Taxable and Must Be Reported
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Tip Income is Taxable and Must Be Reported

IRS, Personal Finance, Personal Taxes, Tax Tips, Taxes

Tip Income is Taxable and Must Be Reported

This article was published by the IRS. People who work in restaurants, salons, hotels and similar industries often receive tips for the customer service they provide. Tips can be taxable income, but it's important for people working in these areas to understand important details involving tips. What are tips? Tips are optional cash or noncash payments [...]

cozbycpa2025-02-05T09:54:00-05:00February 5th, 2025|Categories: IRS, Personal Finance, Personal Taxes, Tax Tips, Taxes|Tags: Cozby & Company, CPA Heather Cozby, direct and indirect tips, how to keep a daily tip record, how to report tips on individual income tax returns, how to report tips to employer, is tip income taxable, Plymouth MA accountant, tip requirements for employers|

It’s Summertime… and These Tips can Help Make Livin’ Easy for Teens with Jobs
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It’s Summertime… and These Tips can Help Make Livin’ Easy for Teens with Jobs

Education, IRS, Personal Finance, Personal Taxes, Planning Strategies, Self-Employed, Tax Tips, Taxes

It’s Summertime… and These Tips can Help Make Livin’ Easy for Teens with Jobs

The following article was published by the IRS. With summer almost here, many students will turn their attention to making money from a summer job. Whether it’s flipping burgers or filing documents, the IRS wants student workers to know some facts about their summer jobs and taxes. Not all the money they earn will make it [...]

cozbycpa2019-06-14T12:27:44-04:00May 22nd, 2019|Categories: Education, IRS, Personal Finance, Personal Taxes, Planning Strategies, Self-Employed, Tax Tips, Taxes|Tags: Cozby & Company, is tip income taxable, payroll taxes for teenagers, self-employment tax for teens, tax preparation in Plymouth MA, tax treatment of ROTC pay, taxes for teens, W-4 for students|