Beauty Salons Would Get the Same Tax Credit as Restaurants

Employers in the food service industry (e.g., restaurants) can qualify for a tax credit for FICA on tips. The credit acts as a reimbursement for the costs employers incur in accounting for tipped income. The Small Business Tax Fairness and Compliance Simplification Act (H.R. 2603) would extend this credit to employers of beauty salons where employees rely on a large portion of their income from tips. #IdeaoftheDay

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