Shows industry specific reports for restaurants that Paychex will produce for free.

1. Restaurant Owners
Were you aware that you are eligible
for a federal tax credit?
Here’s How!
Example of the FICA Tax Credit Calculation for food and beverage tipped
employees
Average amount of one employee’s reported tips for
$
the pay period
Wages paid to employee + $
_______ X $ _______ =
hours hourly
rate
Subtotal $
Hours at minimum wage rate - $
_______ X $5.15 =
hours
Tips on which credit is calculated
Employer’s portion of FICA (Social
x 7.65%
Security/Medicare)
Per-pay-period tax credit = $
Payrolls per year (number of check dates per year) x
Potential annual savings per employee = $
Number of employees x
Estimated Federal Tax Credit $