restaurantdoctor_fica_tip_credit

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Estimates a US restaurant's FICA tip credit (IRS Form 8846, the 45B credit) for a year like the one in its payroll figures, as the free FICA tip credit check on restaurantdoctorai.com does: the employer's 7.65% Social Security and Medicare tax on reported tips, less the tips needed to bring tipped staff's cash wage up to the 5.15 dollars an hour the law fixes for restaurants. Returns the reasons the real answer may be zero first (already claimed, no federal income tax owed, service charges aren't tips, only the business can claim it), then the credit as a range, its worth after the deduction it replaces, the years that may still be open, and sources. It answers questions about taxes on tips, Form 8846, the 45B credit or money the business may be missing on tips. It needs the state, a year's tips reported through payroll (never service charges) and, where the cash wage is under 5.15 dollars, tipped staff's hours that year; whether the return already includes Form 8846 comes first, if known. A figure that isn't sent is never counted as 0. It files nothing, isn't tax advice and takes no payment: the result is an estimate to take to the accountant, with a link that opens the same check with the figures filled in. The figures aren't stored; only an anonymous daily count of calculator runs is kept.