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Subjects>Business>Accounting

What is the difference between bonus and profit sharing?

Anonymous

∙ 14y ago

Updated: 9/28/2023

Bonus means we are getting much money by doing a work.

Profit means when we sell with more money it is known as profit.

Wiki User

∙ 14y ago

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What are some common types of retirement accounts?

Common types of retirement plans available include the 401k, the Defined Benefit Plan, the Profit Sharing Plan, and many others. More options and more information about these plans can be found on retirementplans.org

Which method of depreciation would you use if you were to receive a bonus which is based on net profit?

which method of depreciation to use when bonus is received that is based on net profit

How much tax you pay for 30000 dollar bonus?

In the range between 2-3 grand.

What is the tax difference between bonus and commission?

A commission is earned by selling something. It could be a straight dollar amount per unit sold, or a percentage of the gross sale or the net sale. A bonus is a monetary reward over and above the regular salary or commission paid. For example, if a salesman had a quota of X units sold or X dollars in volume, met those quotas and more, the salesman may qualify for a bonus - an extra amount of money. As far as tax difference, it all depends on the dollar amount. It will all come out when you do you yearly income taxes - you are taxed on your adjusted gross income. I missed the word tax the first time I answered.

What are the types of shares which are issued as bonus shares?

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