Are you getting the credit you deserve?
If you are an employer in the food and beverage industry, you may be entitled to a tax credit for the social security and Medicare taxes you pay on your employees' tip income. You must meet both of the following requirements to qualify for the credit:
|The optional standard mileage rate for the business use of an automobile is 54 cents per mile in 2016.|
|Beginning January 1, 2017, the standard mileage rates for the use of a car (including vans, pickups, or panel trucks) are: