Why Cash Tips Are Not Coffee Money скачать в хорошем качестве

Why Cash Tips Are Not Coffee Money

Tax talk that actually puts money back in your pocket starts here. We sat down with April McDaniel of Kopsa Otte to decode the new rules on tips for the beauty industry and map out simple steps that protect your income, benefits, and long-term security. From why 100% of tips must be reported to how the new incentives work, we connect the dots so employees and owners can act with confidence. First, we break down the $25,000 employee tip deduction: who qualifies, how to document tips correctly on a W-2, what “modified adjusted income” means for phaseouts, and why FICA still applies. We also cover special cases like self-employed artists keeping separate tip records, married filing status pitfalls, federal versus state differences, and the 2025–2028 window that makes this a timely priority. The message is clear: clean records now lead to smoother filings and bigger benefits later. Then we shift to the owner’s playbook. April explains how the long-standing FICA tip credit, claimed on Form 8846, now applies to salons and spas. We detail the payroll and reporting steps that unlock the credit, when minimum wage rules limit eligibility, and how the credit flows through for S corps and partnerships. You’ll hear practical policies that eliminate off-book cash and app tips, ways to leverage salon software for accurate reporting, and a simple compliance framework that stops leaving money on the table. This conversation champions a mindset shift: tips are not coffee money, they are real income that should fund goals, build credit, and secure benefits. If you’re ready to level up your business, align your team, and claim what the law now offers, this is your roadmap. Subscribe, share with your team, and leave a review to help more beauty pros grow smarter and stronger. Find out more about April and Kopsa Otte at https://www.kopsaotte.com/ To learn more about how Strategies can help you create more profit, fun, and growth potential for you, your business, and your team, schedule a free 60-minute strategy session: Schedule a free 60-minute strategy session: https://strategies.com/free-coaching-... Strategies: https://www.strategies.com Salon/Spa Business Coaching: https://strategies.com/memberships/ In-Person Salon/Spa Seminars: https://strategies.com/seminars/ Podcast: https://strategies.com/podcast/ Instagram:   / strategies4biz   Facebook:   / strategies   TikTok:   / strategies4biz   The Beauty Business Strategies Podcast is designed to give salon, spa, medspa, barbershop, and lash studio owners, just like you, quick tips to make more money, inspire your team, and create world-class client experiences.