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Updated about 2 months ago on . Most recent reply
John UnderwoodPoster
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No tax on Tips for Rental Income
John UnderwoodPoster
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So, when Trump changes to no tax on tips I feel inclined to change my rental income structure.
50% reduction in rent.
Previous 50% made up from a mandatory nontaxable tip. This will be for my excellent service as a landlord.
Just like a restaurant does when you have a party of 8 or more - they add a mandatory tip.
Doubt there will be any laws against this, at least initially.
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Bruce Woodruff
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Bruce Woodruff
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Quote from @Aaron Zimmerman:
I would look for other ways to legally reduce income such as cost segregation studies. Also - the no taxes on tips is not currently law.
Yeah, I think you may be missing an attempt at humor here....but then you are an accountant..... :-)