UnderCover Waitress: Tax Time 2014

Search This Blog

Loading...

Monday, March 3, 2014

Tax Time 2014

Just a quick reminder: tax time is fast approaching! If you have questions or concerns about keeping track of or reporting your tips, head on over to H&R Block's blog post written by yours truly for some answers:

How to Keep Track of Your Tips for Tax Purposes

And remember the golden rule of thumb: If you earn it and keep it, report it. If you give it away as a tip out, don't report it. For example:

Tips earned: $100
Tip outs:    $10
Take home tips:  $90.

You claim and pay tax on $90.

Happy tax time! ;-) 

2 comments :

  1. Ah, tax time... same thing here too.

    ReplyDelete
    Replies
    1. Yup, I think the saying goes something like there are only two guarantees in life: death and taxes. Heh.

      Delete

Please share your thoughts.