Feb 13th
when doing my tax return, should i report my tips?
- Posted in Taxes Q&A
- Comments 3
i’m a part time pizza delivery driver, i just started 3 months ago. anyway, my question is should i report my tips when doing my tax returns and does reporting my tips mean i’m going to owe the IRS?
only if you reported your tips with your resteraunt…if you never reported them on a comuter or with your manager, dont report them…if you did report them to your manager, its your call on whether you want to report it to the IRS….i worked at Pizza Hut once and never reported my tips. that was like 10 year ago
Technically, you’re legally obligated to.
But probably 95% of people don’t report tips.
There’s an audit risk if you don’t report them but its probably very, very slight.
The issue is that the IRS knows the types of jobs that should earn tip money in addition to your normal earnings. If you don’t report ANY tips, it would be a flag for the IRS. But , in my opinion, the risk is going to be very remote of you getting audited.
Anthony
(www.small-business-startup-advisor.com)