There are some folks on this board that have apparently worked in the casino industry. I have a question: Tip Compliance..........Never heard of it........but it was brought up in another group and it was stated that it was a Nevada state law that anywhere from $2 to $55 per hour was assumed to be earned tips....... and was taxed accordingly. Is this true? Also I understood tips to be pooled in many cases..........and if so.......does the casino not know exactly what tips are paid..........for tax purposes? Why would a tip compliance rate be applied in that case?
Depends on the casino whether the tips are pooled. Most have some kind of pool, just the pit for the games there, then the slots, etc. The tips are taxed, and it is an accounting procedure that insures the IRS gets their share.
Nevada does not currently have a state income tax. IRS publications on Gaming Industry Tip Compliance Agreement: https://www.irs.gov/pub/irs-pdf/p4932.pdf https://taxmap.irs.gov/taxmap/ts0/publication4932gam_p_24fc5b1c.htm https://www.irs.gov/pub/irs-drop/rp-03-35.pdf
So it appears that it is true.........and many if not most Vegas casinos "partner" with the IRS.........with the main advantage to the casino and employees..........is that the IRS will not perform tip audits. Guess a lot depends on the accuracy of the level of tip compliance that is agreed upon.
I am a FIRM believer in toking / tipping the dealers - However, I will relate ONE incident which turned ME against THAT attitude - If recollection serves me correctly - it was at Caesar's in AC - I was the shooter OR my wife was the shooter - I placed a $1 bet ACROSS - UNDER MY CONTROL - for the crew - MY stipulation was simple - The ORIGINAL BET STANDS until it is lost to a 7-Out - Dealers DROP the win - Pit Boss approaches the table and states " That is UNACCEPTABLE " - The ENTIRE BET is dropped - Which meant that I would have to replenish my $1 toke EACH and EVERY time that a number hit - Suffice it to say - I remarked to the dealers - " Your Boss just fucked you - I am willing to venture $1 with the casino matching MY toke - but - YOUR CASINO has OTHER agendas " - " Sorry - but - I am NOT going to play THEIR game " ! In MY opinion - FUCK the CASINO ! $...eE..$
Interesting...........this is exactly the way I toke dealers............and have never had a problem........I would do exactly what you did if I was told I could not toke that way. The dealers especially like it ..........if I am well ahead and I play the Iron Cross and put a $1 on every bet, stating I'll Control........and tell them to take the win, leave the bet...... Since they win on every roll (except the 7-out) they are very happy with it. (I do replace the field bet for them, if needed.)
Tax and securities are some of the more complicated areas of the law. Given their complexity and the staggering variety of fact patterns that could emerge, there is a need for what are essentially "safe harbors" to help those with really good lawyers avoid conviction after breaking the law facilitate compliance and reduce the burden (of compliance) placed upon the taxpayer / registrants & those who deal in the secondary markets (securities).
