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erik q | So does the Pizza Hut waitress need to report to the IRS the $10,000 tip? |
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Dan
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Tips are taxable income. Another piece of advice is if your employer 'allocates' tips. Your actual tips are taxable, so if you make more, you should pay on that basis, but the reverse is true too. If you can document that you made less, you can claim less. |
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bronco1_80
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Dan is right, tips are NOT gifts! They are taxable income. You should check to see if your employer allocates a percentage of your sales for tips. |
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prius2005toy
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I'm afraid she does if it was given as a tip...servers are supposed to report their tips when they file their income tax. |
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Judy1
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Yes, if it was given as a tip - tips are required to be reported. And anyone with that much publicity will most likely be looked at closely.
But the giver could very probably make a good argument that it was a gift, not a tip, in which case it would be tax-free. |
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Already there...
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Unfortunately, the IRS will probably start looking for her, now that she's gone public with the whole thing. I would invest it if I were her though. I dunno. |
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WisePitfighter
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tip's are not gifts. If they were, Waitresses could not receive less than minimum wage. |
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froggsfriend
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Of course, the honest thing to do is report it. But would I? Probably not! |
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sv911
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If she considers it a tip, then yes, she'll have to report it. I believe you can receive a one time gift of of up to $10,000 from someone which does not have to be reported according to the IRS. |
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amysgetaways
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Nope, its a gift. No need for the receiver of the gift to report the income. If the gift was a higher amount, then it needs to be reported. |
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