Profit Sharing

The purpose of a profit-sharing plan is to help fund your employees’ and your own retirement and may ultimately help attract quality employees and reduce your employee turnover rate. Profit sharing plans are a form of compensation that companies pay to their employees governed by the terms of an incentive plan wherein a portion of the company’s profits are paid to its employees; usually on an annual basis. Typically, it is a way for an organization to provide employee recognition, and is often used as a way to attract or keep employees.

Porter Law Group offers unparalleled counsel for managing profit sharing needs, and will help develop an incentive plan that distributes a portion of the organization’s profits to employees. It is crucial that the company understands how to establish a plan within the boundaries of the law to create a pool of pre-tax profits that will be distributed to their eligible employees.

The Porter Law Newsletter

Get highlights and insights of the most important legal information delivered right to your email inbox.
 
error: Content is protected !!