FICA Tip Credit

Most Food & Beverage Businesses Can Save Thousands in Payroll Costs

Your employees work hard to earn generous tips. Receive significant income tax savings for paying your share of employment taxes on tipped wages.

Are you missing out on tax savings you’ve earned?

What is the FICA Tip Credit?

Waiter taking down a phone order

The FICA Tip Credit is an income tax credit for restaurants, bars, nightclubs, and other food and beverage service-based businesses that pay employment taxes on tip income. Business owners can recover a portion of these costs on their income taxes each year.

Benefits of Claiming WOTC:

Retroactive Tax Refunds

Receive refunds on unclaimed credits in prior tax years.

Maximize Tax Savings

Save up to 7.65% of employees’ tip income once minimum wage requirements are met.

Claim Unlimited Credits

Claim credits for each tipped employee earning above minimum wage.

What Omega Provides

Omega Accounting Solutions helps small and medium-sized businesses access expert tax consulting services typically only available to large corporations. We calculate and substantiate your FICA Tip Credits, delivering accurate, fully compliant, IRS-friendly reports. With 15+ years of experience and expertise in federal & state tax incentives, Omega uses a holistic perspective to evaluate your overall tax strategy and find untapped opportunities to maximize your tax benefits each year.

How It Works:

Step 1: Initial Consultation

Discovery meeting with one of Omega’s knowledgeable tax credit professionals.

Step 2: Comprehensive Analysis

Omega identifies all opportunities to claim FICA Tip Credits in accordance with IRS regulations.

Step 3: Calculation & Substantiation

Omega provides a detailed payroll analysis to your CPA, who applies the credits on your tax returns.

Unlock Savings with the FICA Tip Credit

Ready to start saving with Omega’s FICA experts? Fill out the form to request a complimentary discovery meeting with our experienced team of professionals.