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Tip Income

IRS Tax Tip – Tip Income; How It Affects Your Taxes

IRS Tax Tip – Tip Income; How It Affects Your Taxes

Tip Income; How It Affects Your Taxes If you get income from tips, you should know some things about tips and taxes. Here are a few tips from the IRS to help you file and report your tip income correctly: Show all tips on your return. You must report tip income. This includes the value […]

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Bartender did not underreport his tip income

Bartender did not underreport his tip income

Sabolic, TC Memo 2015-32   The Tax Court has held that the amount of tip income that a bartender’s records showed was a better reflection of that income than the amount that IRS determined by reconstructing his tip income. Click here for the Opinion of the Court. Background. Code Sec. 6001 and Reg. § 31.6053-4 […]

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IRS Tax Tip 2013-16: Important Reminders about Tip Income

IRS Tax Tip 2013-16: Important Reminders about Tip Income

If your pay from your job includes tips, the IRS has a few important reminders about tip income: Tips are taxable. Individuals must pay federal income tax on any tips they receive. The value of non-cash tips, such as tickets, passes or other items of value are also subject to income tax. Include all tips […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Member CA Bar Member Orange County Bar US Tax Court Attorney