ANSWERS: 2
  • Keep good records of your wages and tips. The 1040 instructions are easy to follow or do your Federal tax free online at taxact.com, which makes it even easier.
  • Just remember that the IRS rules state that ANY person can give you a gift of up to $10,000 per month, TAX FREE. The reason why I mention this, is because some tax experts and politicians claim that "TIPS ARE GIFTS," and because they are, they need not be reported as income, simply because there is no income tax on them. But, you didn't hear that FROM ME! +5

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