Comments on: when doing my tax return, should i report my tips? http://www.setget.net/when-doing-my-tax-return-should-i-report-my-tips/ Get Ready for Tax Season | Income Tax Filing | Tax Help | Tax Deductions | Online Tax Preparation | Business Taxes | Tax Shelters Tue, 12 Jan 2010 14:31:37 +0000 hourly 1 http://wordpress.org/?v=3.0.2 By: APMilano http://www.setget.net/when-doing-my-tax-return-should-i-report-my-tips/comment-page-1/#comment-126 APMilano Wed, 30 Jan 2008 22:23:24 +0000 http://www.setget.net/when-doing-my-tax-return-should-i-report-my-tips/#comment-126 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) 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)

]]> By: mande95747 http://www.setget.net/when-doing-my-tax-return-should-i-report-my-tips/comment-page-1/#comment-125 mande95747 Wed, 30 Jan 2008 21:39:38 +0000 http://www.setget.net/when-doing-my-tax-return-should-i-report-my-tips/#comment-125 Technically, you're legally obligated to. But probably 95% of people don't report tips. Technically, you’re legally obligated to.
But probably 95% of people don’t report tips.

]]> By: kevinmac9999 http://www.setget.net/when-doing-my-tax-return-should-i-report-my-tips/comment-page-1/#comment-124 kevinmac9999 Wed, 30 Jan 2008 21:39:29 +0000 http://www.setget.net/when-doing-my-tax-return-should-i-report-my-tips/#comment-124 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 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

]]>