If you own a restaurant, you may have significant questions about tips. You might wonder, for example, who exactly are the tipped employees. You may also have to ask questions like “are tips taxable?” and “can my employees pool tips?” in order to make your budgets and ensure that you operate at a profit. The truth is that tips are both more and less complex than you might think, but they make up a vital part of how your business will function financially. As such, it’s important to keep at least five major factors in mind when you’re dealing with this part of your business.
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