New White Paper on Payroll for Tipped Employees
Payroll can be a unique challenge for businesses that employ tipped workers. Complex regulations that change from federal to state and local levels make handling payroll for tipped employees a complicated undertaking for many small businesses. By understanding government regulations concerning tipped employees, employers can take appropriate steps to reduce risk and ensure compliance.
If you are a business owner who has employees that receive tips, do you know how to handle and report that tip income? Do you know that you can count employee tips as part of their wages by taking a credit against the minimum wage requirement?
The December issue of Insights & Innovations tackles the complex issue of payroll for tipped employees. Topics covered include minimum wage and overtime for tipped employees, handling the tip credit, pooled tips and tip reporting. Additionally an explanation of new legislation regarding disclosure to tipped employees for employers who take advantage of the tip credit.
Please visit our Insights & Innovations page to read the full white paper.
The material contained on this page is for informational purposes only and is current as of the date of publication. CompuPay is not a legal, tax or financial adviser and makes no claims as such. For tax, financial or legal advice, please seek a professional.