A profit-sharing plan is a retirement plan that allows an employer or company owner to share the profits in the business, up ...

GM announced profit-sharing checks up to $14,500 for 45,000 U.S. hourly workers, a record linked to its strong pre-tax earnings but contrasted by layoffs and an unchanged focus on gasoline vehicles.

The maximum amount of salary that can be used to calculate a profit-sharing amount is $290,000 for 2021. Employers create plans that indicate how benefits will be distributed. These plans are ...

David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning.