profit sharing

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profit

the amount by which income exceeds expenditure.

profit sharing
profit sharing between a professional and a lay person is illegal in most countries because it is considered to be improper for a nonveterinarian to have any authority over the quality and style of the work of a professional person.
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Participation in a profit-sharing plan typically must be offered to all employees age 21 or older who worked at least 1,000 hours in a previous year.
There are several factors a company must consider with a profit-sharing plan.
In Section I of the paper, we provide an overview of some institutional features of ESOPs and profit-sharing plans.
This article describes the major features of today's profit-sharing plans, based on data on plan provisions from the BLS 1989 Employee Benefits Survey.
Additionally, new funds going into a profit-sharing plan are tax-deductible.
Based on the principles used to create age-weighted profit-sharing plans, it is possible to go beyond the age-weighted allocation formula and develop alternatives that better meet the objectives of providing for more senior people.
Once profit-sharing plan limits were increased to the lesser of 25% or $42,000 (2005 limit under Section 415), more "room" became available under these plans.
To maximize these contributions employers commonly offer "paired" plans, consisting of a money purchase pension plan (MPPP) and a profit-sharing plan.
For business entities with a profit-sharing plan, the plan trustee can be authorized to purchase life insurance with the monies in one owner's or partner's segregated profit-sharing account on another co-owner's life.
Most profit-sharing plans allocate the corporations contributions only on the basis of compensation.
Other consequences of reclassification include nondiscrimination and coverage requirements in pension and profit-sharing plans and workers' compensation rules.
Age-weighted profit-sharing plans allow contributions to be allocated on the basis of both relative compensation and age.