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Food and Beverage Tax Return  City of Alton  Form

Food and Beverage Tax Return City of Alton Form

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Instructions and help about Food And Beverage Tax Return City Of Alton

[Music] today's tax tip is for food trucks bars and restaurants most businesses that serve food and beverages have special taxes to pay to stay in business the most audited areas for bars restaurants and food trucks are sales tax food and beverage taxes and withholding taxes the IRS uses the industry calculator that provides suitable ranges in terms of how much cash receipts you should have reported on average compared to credit card uh so the Under reporting of any cash will trigger an audit and possible charges of tax of agents and we want to avoid that at all possible right so here's four tax tips to avoid any interruptions one first register in the state where you plan to do business two track cash receive daily along with the corresponding receipts they have to go hand in hand three track and uh collect employee tips very important the uh the business owner is required to allocate eight percent of food and drink tips to its employees and four collect sales food and

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