The Complete Guide to Tips & Gratuities

by Fullen, Sharon L.

• ISBN13: 9780910627382
• ISBN10: 091062738X
• Format: Paperback
• Copyright: 2004-10-01
• Publisher: Atlantic Pub Co

Summary

This book deals with all aspects of tips and gratuities. For the employee or self-employed: how to earn more and how to properly account for tips and pay taxes on them. For the employer: how to manage and properly account for the taxes on tipped employees. For the book-keeper and accountant: get the latest on the tax and withholding laws. Apart from all great and practical advice in the book, it has to be remembered that tips have to be earned, thus there are hundreds of tricks, hints and suggestions to help tipped employees to make more tips!

Table of Contents

Introduction Who Should Read This Book	7	(4)
Chapter 1 What Is a Tip?
Tips Are Wages	11	(1)
Tips Are Controversial	12	(4)
Chapter 2 To Insure Promptitude-The History of Tipping
Your Guests Must Pay	16	(1)
Tipping in America	17	(1)
Non-Tippers, Beware	17	(1)
Sharing the Wealth	18	(1)
The Anti-Tipping Movement	19	(1)
Tipping in the 21st Century	20	(1)
Chapter 3 The Why of Tipping
Why Do People Tip?	21	(3)
What? No Tip?	24	(1)
Why Some People Don't Tip	25	(1)
Tipping in Other Cultures	26	(3)
Chapter 4 Tip Etiquette
Giving Tips	29	(1)
Who Should Be Tipped?	30	(1)
People Are Confused	30	(1)
When You Are on the Receiving End	31	(2)
Tip Jars	33	(2)
Educating Customers	35	(2)
Chapter 5 How to Increase Your Tips
Percentage or Sales	37	(1)
Why Do Some People Earn Better Tips?	38	(1)
Look in the Mirror First	39	(1)
Little Tips for Bigger Tips	39	(5)
Do Your Own Research	44	(4)
Teamwork = Better Tips	48	(1)
Salesmanship	49	(2)
Chapter 6 Become a Commission Salesperson
Be Prepared	51	(1)
Be Proactive	52	(1)
Be Service-Oriented	53	(1)
Be a Salesperson	54	(1)
Be Professional	55	(1)
Suggestive Selling	56	(4)
Dazzle Them with Your People Skills	60	(1)
Pride in Your Job	60	(1)
Chapter 7 What Employers Can Do to Boost Service and Tips
Increased Sales	61	(1)
Improved Customer Service	62	(1)
Decreased Employee Turnover	62	(1)
Measured Performance	63	(1)
Be Proactive	63	(4)
Tip-Sharing	67	(2)
Chapter 8 Reporting Your Tips to the IRS
Definitions	69	(2)
When You Must Report Your Tips	71	(1)
Daily Recordkeeping	72	(2)
Reimbursed Expenses	74	(1)
Deductible Expenses	75	(2)
Monthly Reporting	77	(1)
Looking at Your W-2	78	(1)
Allocated Tips	79	(1)
Tip-Sharing	80	(1)
Confused So Far?	81	(5)
IRS Tip Programs	86	(2)
Reporting Tips on Your Tax Return	88	(1)
Claiming Gifts	89	(1)
Filing Your Tax Return	90	(1)
Saving Your Records	90	(1)
The Cost of Not Having Records	91	(1)
The Risks You Take	91	(1)
Tip Audits	91	(1)
Tips and the Self-Employed	91	(3)
Chapter 9 Why Should I Report My Tips?
Tips Are Income	94	(1)
Taxes and No Income	94	(1)
Paying Penalties	95	(1)
Other Financial Penalties	96	(2)
You May Be Short-Changing Yourself	98	(1)
You Could Lose Your Job	98	(1)
Chapter 10 Employers and Tips
Definitions	99	(2)
Rules for "Large" Food and Beverage Businesses	101	(2)
IRS-Compliance Programs	103	(5)
Self-Regulation	108	(1)
Encouraging, Supporting and Requiring Compliance	109	(4)
Legislation and Court Rulings	113	(1)
FICA Tax Credit	114	(1)
Your Payroll Accounting Needs	115	(2)
Chapter 11 Wage laws and Tip Regulations
Minimum Wages	117	(2)
Overtime for Tipped Employees	119	(3)
Tip Pools	122	(2)
Employment Rights and Obligations	124	(3)
Chapter 12 Resources
Books	127	(1)
Customer Service and Sales	127	(1)
Internal Revenue Service	127	(1)
Publications	127	(1)
Forms	128	(1)
Tax Topics	129	(1)
Legal	129	(1)
Payroll Software	129	(1)
Minimum Wages	129	(6)
Restaurant Industry	135	(1)
Pizza Delivery	136