A profit sharing plan can be an innovative compensation strategy for business owners to motivate and reward their employees. There are 2 kinds of profit sharing plans: those that defer profits to a retirement plan and those that make profits a part of the base compensation plan. We also will talk about gainsharing here, another…

The post How to Set Up a Profit Sharing Plan appeared first on .

Source: http://fitsmallbusiness.com/profit-sharing-plan/