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CO Reported tips, minimum wage, and income reporting

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  • webfoot
    started a topic CO Reported tips, minimum wage, and income reporting

    CO Reported tips, minimum wage, and income reporting

    My question delves in to each area of the Title somewhat.

    In the restaurant industry and have a large portion of our staff recieving sub-minimum wage as allowed by Colorado Wage Order #22.

    My question involves the minimum wage, and reported tips to both fed and state. If our employees ALL recieve minimum wage or better, are we required to monitor, record, and report the tips received by our employees? Or can we, because of paying minimum wage, delegate the responsibility of reporting tips to the federal and state gvmnt to the employees?

    Thanks for any help, in advance.

  • webfoot
    replied
    Thanks so much for the lead...
    Unfortunately, what I figured would be the case, is. Oh well... it was worth looking into.

    THanks again Pattymd!

    ~
    ..
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    U


    Wade

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  • Pattymd
    replied
    Well, if the directly tipped employees making at least minimum wage do not, you very well may be required to calculate and show allocated tips on their W-2s. This applies if the food and beverage establishment has more than 10 employees. Start here: http://www.irs.gov/faqs/faq12-3.html

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