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HEALTH AND SAFETY WORK TIPSTER WORKERS NEW TO JOBS AND TASKS AND PERSONS CONDUCTING A BUSINESS OR UNDERTAKING (PCB) This information is for you if you are: a young worker aged under 24 years; a migrant
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Who needs work tips:

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Employees: Work tips are essential for employees who have expenses or income related to their job, as these records can be used for reimbursement, tax purposes, or general financial management.
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Freelancers: Freelancers or self-employed individuals often need to track and report their work tips to maintain accurate financial records for client billing, tax filing, and business decision-making.
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Employers: Employers may require work tips from their employees to monitor and manage expenses, reimbursements, or revenue generated by the business. Additionally, these records can help employers assess profitability, allocate budgets, or prepare financial statements.
Remember, filling out work tips accurately and maintaining proper records is crucial for effective financial management, compliance with regulations, and making well-informed business decisions.
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Work tips are extra earnings received by employees in addition to their regular wages, typically coming from customers in service industries.
Employees who receive work tips are required to report and file them to the IRS.
Work tips can be filled out on Form 4070, or employees can keep a daily record of tips received and report them at the end of each pay period.
The purpose of work tips is to accurately report an employee's total income and ensure proper taxation.
Employees must report the total amount of tips received, as well as the amount of tips that were shared with other employees.
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