Take the pain out of managing the complexities of wage, tip and reporting for your restaurant. Our restaurant payroll service includes allocated tip reporting, tip-to minimum validation, shortfall reports and the FICA tip credit report. We will make it easy for you to ensure that you are meeting your IRS requirements.
Allocated Tip Reporting: A lot of employers of restaurants or bars operate tips in an aggregated fashion. Payday is the time to reward your employees with this extra incentive. Tips, though, are not excluded from taxes, and getting busted brings a hefty penalty. Let us take the burden of reporting the proper data to the IRS for you.
Tip-To-Minimum Validation: Coastal Payroll’s system verifies the wages paid to your staff and the tips reported comply with minimum wage requirements. Just another way we work together to avoid trouble!
Shortfall Reports: Unfortunately, some of your employees do not receive adequate funds from wages alone to cover their taxes and voluntary deductions. We utilize shortfall reports to identify if there is a situation of the sorts that needs further attention. Reason being, the employer is responsible for recovering these funds through payroll processing…don’t be left in the dark!
FICA Tip Tax Credit Report: We’ll ensure you receive the tax credit you deserve for a portion of the FICA taxes you pay on employee tips. It adds up, potentially hundreds of dollars each year per employee! Coastal Payroll guarantees accurate filing of the FICA tax credit Form 8846 using data already compiled in payroll.