View Poll Results: Should Tipping be figured into a wait staff wage?

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  • Yes, it is perfectly fine for wait staff to have a lower wage, they are making that up in tips.

    17 28.81%
  • No, It is the job of the management to pay their employees accordingly.

    22 37.29%
  • A combo of both.

    14 23.73%
  • I need a beer and I don't care...

    6 10.17%
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Thread: Wait staff, tipping, and Minimum Wage

  1. #171
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    Re: Wait staff, tipping, and Minimum Wage

    Quote Originally Posted by ttwtt78640 View Post
    Yep. Not bad manners, just good beer.

    Better to burp, and taste it, than to fart, and waste it.
    Thanks, I was gonna skip lunch today anyway.

    Oh wait...I mean "THAT'S NOT RELEVANT TO THIS THREAD!".

  2. #172
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    Re: Wait staff, tipping, and Minimum Wage

    Quote Originally Posted by Bodhisattva View Post
    Only on Taco Tuesdays...
    Well then I'm surprised anyone tipped you.

  3. #173
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    Re: Wait staff, tipping, and Minimum Wage

    Quote Originally Posted by Carjosse View Post
    Well then I'm surprised anyone tipped you.
    Well, I was doing the moustache with a Mexican accent in a French restaurant.
    Quote Originally Posted by Bucky View Post
    I have pooped in public, even in public neighborhoods.
    Quote Originally Posted by OldFatGuy View Post
    Usually a gag for wise mouthed insulting little girls. Then some good nylon rope so I can tie them up, toss them in the trunk of my car and forget about them.

  4. #174
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    Re: Wait staff, tipping, and Minimum Wage

    Quote Originally Posted by Gipper View Post
    He wants it to be tax exempt - as if tips aren't already a huge tax cheat as is. Like anyone claims all their tips.
    True. By the way, totally off subject, if you ever feel like explaining regular straight line deprecation on a rental house and how it effects me when I sell it--please feel free. My wife asked me what it was last time we did taxes and I just said, I am not exactly sure but we do it this way every year (as I am filling in info using H&R Block software). I can't wait to sell the house and not have to deal with the taxes and everything else that comes with being a landlord.

    But back to the tips, do waiters and waitresses have a minimum percentage they are supposed to claim? Or has that already been discussed?

  5. #175
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    Re: Wait staff, tipping, and Minimum Wage

    Quote Originally Posted by Porchev View Post
    True. By the way, totally off subject, if you ever feel like explaining regular straight line deprecation on a rental house and how it effects me when I sell it--please feel free. My wife asked me what it was last time we did taxes and I just said, I am not exactly sure but we do it this way every year (as I am filling in info using H&R Block software). I can't wait to sell the house and not have to deal with the taxes and everything else that comes with being a landlord.

    But back to the tips, do waiters and waitresses have a minimum percentage they are supposed to claim? Or has that already been discussed?
    Straight line is just a form of depreciation where you deduct the same amount every year as a write-off (as opposed to, say, a declining balance which you can use to assist you early on if you need an immediate break, and then reduce the amount along the way when you have a better financial situation).

    Selling your home, basically what you're concerned about is recognizing the gain on sale (or loss, if you took a hit selling it). You only pay taxes on the amount of profit (or deduct the amount you lost), unless it's your primary home (that has special rules that allow certain benefits). If it's a secondary income home, you'll just fill out a Schedule D and a Form 8949, recognizing a capital gain on the difference between your basis (or what you paid, either or) and what you sold it for.

  6. #176
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    Re: Wait staff, tipping, and Minimum Wage

    Quote Originally Posted by Porchev View Post
    True. By the way, totally off subject, if you ever feel like explaining regular straight line deprecation on a rental house and how it effects me when I sell it--please feel free. My wife asked me what it was last time we did taxes and I just said, I am not exactly sure but we do it this way every year (as I am filling in info using H&R Block software). I can't wait to sell the house and not have to deal with the taxes and everything else that comes with being a landlord.

    But back to the tips, do waiters and waitresses have a minimum percentage they are supposed to claim? Or has that already been discussed?
    On the straight line deprecation, I can tell you what I think is true (it may not be).
    Say you bought a house for $30,000, and rent it out,
    You set up the deprecation for 30 years at $1000 per year.
    This is the amount you deduct off of the property income each year.
    After 5 years you sell the property for $35,000.
    You would pay $10,000 in capital gains tax, because the deprecated purchase price is now $25,000.
    Several decades ago, when I was a waiter, they gave a $2/hour tip credit.
    So you worked at $2 below minimum wage, with the idea that you would make at least $2.00 per hour in tips.
    The minimum wage amount got reported to the IRS.
    If you made more than $2/hour, you were supposed to report it, but few did.

  7. #177
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    Re: Wait staff, tipping, and Minimum Wage

    Quote Originally Posted by longview View Post
    On the straight line deprecation, I can tell you what I think is true (it may not be).
    Say you bought a house for $30,000, and rent it out,
    You set up the deprecation for 30 years at $1000 per year.
    This is the amount you deduct off of the property income each year.
    After 5 years you sell the property for $35,000.
    You would pay $10,000 in capital gains tax, because the deprecated purchase price is now $25,000.
    Several decades ago, when I was a waiter, they gave a $2/hour tip credit.
    So you worked at $2 below minimum wage, with the idea that you would make at least $2.00 per hour in tips.
    The minimum wage amount got reported to the IRS.
    If you made more than $2/hour, you were supposed to report it, but few did.
    No. Depreciation has no basis on recognized gains of the house. The only thing you need to know as far as selling is the sale price and the basis of the house (which is what you bought the house for, including all fees and commissions, along with additions to the house meant for maintenance and improvement).

    The purpose of depreciation is to ease the amount of recognized and taxable income you have to pay in any given year. It has no factor in the actual worth of the house, and is not a factor in its sale.

  8. #178
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    Re: Wait staff, tipping, and Minimum Wage

    Quote Originally Posted by Porchev View Post
    True. By the way, totally off subject, if you ever feel like explaining regular straight line deprecation on a rental house and how it effects me when I sell it--please feel free. My wife asked me what it was last time we did taxes and I just said, I am not exactly sure but we do it this way every year (as I am filling in info using H&R Block software). I can't wait to sell the house and not have to deal with the taxes and everything else that comes with being a landlord.

    But back to the tips, do waiters and waitresses have a minimum percentage they are supposed to claim? Or has that already been discussed?
    There is a minimum amount but I can't remember what it is... 13% ?? Some declared a lot less than that though.
    Quote Originally Posted by Bucky View Post
    I have pooped in public, even in public neighborhoods.
    Quote Originally Posted by OldFatGuy View Post
    Usually a gag for wise mouthed insulting little girls. Then some good nylon rope so I can tie them up, toss them in the trunk of my car and forget about them.

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