Restaurant Owners
Learn How To Save Money with the FICA Tip Tax Credit
(Example): Based on 1 Employee with the State of Florida Minimum Wage for Restaurant employees being $7.98
40 hours worked x $7.98 = $319.20
Tips Claimed +$500.00
Combined Total Amount $819.20
Now Calculate the number of hours by Federal Tipped Minimum Wage
40 hours x $5.15 = $206.00
Take the combined total earned by Florida Tipped Minimum Wage and Tips Claimed
and subtract the Federal Tipped Minimum Wage total.
$819.20-$206.00 = $613.20
Then multiply the new Tipped Wage amount by the FICA Rate of 7.65% (.0765)
$613.20 X 7.65%(0.765) = $46.91 weekly and $2,439.32 annual per individual, assuming that the hours and tips stay the same.
*Savings may vary depending on tip amounts
PAYROLL/ASO
Dedicated payroll specialists ensure correct
processing on time, every time. You’ll enjoy
peace of mind, knowing that our team is
on the job
PEO SERVICES
The PEO (Professional Employer Organization)
assumes all Payroll Tax Liability &
shields you from Workers’ Comp Audits
WORKERS’ COMPENSATION
Allow our professional staff to fight Workers’ Comp Claims on your behalf. Keep your rates low (where they should be), and get the applicable discounts that you deserve
HR SUPPORT
Our Certified, Licensed HR Staff will assist
you in order to protect your assets
in the event of Sexual Harassment or
Gender Bias claims
RISK MANAGEMENT
Your livelihood depends on your assets
being properly protected; We can
help keep your interests safe
EMPLOYMENT PRACTICES
LIABILTY INSURANCE
Competitively-priced EPLI coverage protects business owners from suits filed by current, past, or even prospective employees – whether the suit is just or unjust.
