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Each tip you receive as a part of your job counts as taxable earnings. This consists of cash, credit score cards, debit playing cards, tip sharing at work, and, imagine it or not, the money equal of issues likes live performance or sport tickets given to you as tips. In the event you obtain greater than $20 a month in tips, you are required to report that money to your employer every month. Your employer then withholds federal revenue tax, Social Security, and Medicare from this cash [source: Bell].