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Fair Andrea Smith Sources 4-H Quick Tips by Cheryl Varnadoe Extension 4-H Specialist. The University of Georgia. 2002. Compiled by Teresa M. Johnson Educator 4-H Youth Development. Defiance County -Maumee Valley EERA January 2011 Five Point Formula Page 2 There is a five-point formula to the proper thank-you. Sponsorship really means something to you. It helps make them more interested in sponsoring next year. Let s start a movement to revive a little gracious living. Examples of a Page 4...

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What is tips?

Tips are voluntary payments or bonuses received by an employee in addition to their regular wages.

Who is required to file tips?

Employees who receive tips as part of their income are required to file tips.

How to fill out tips?

Tips can be reported on IRS Form 1040, Schedule C or through an employer's payroll system.

What is the purpose of tips?

The purpose of tips is to supplement the income of employees who provide services in industries where tipping is customary.

What information must be reported on tips?

Employees must report the total amount of tips received during the tax year.