Why Law Firms That Practice Profit Sharing Are Likely to Attract the Best Lawyers and Legal Staff

One of the most attractive offers and/or perks a company can make to its employees is to allow them to share in the profit of the company for which they work. When a company’s profit is shared with its employees, the company demonstrates a desire to not only retain those employees for a lengthy period of time, but profit sharing also reveals a business owner’s appreciation of who they’ve hired and the positive results those employees produce time and again.
 
Some employers may not be familiar with profit sharing. This article explains what a profit sharing plan is as well as how to set one up for your employees.
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Also known as a retirement plan, profit-sharing plans can come in several versions. To find the version that’s right for your company, check out this article.
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While you may realize the benefits of profit sharing, you might not know how it benefits.
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Of course profit sharing isn’t perfect for all businesses. Read this article to find out what the problems are with profit sharing, and how those problems can affect your business.
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Once you decide to establish a profit sharing program, you now need to go through the process of setting it up. Find out how to set up a profit sharing plan in this article.
 
There are some setbacks to employee profit sharing. Read this article to find out what those “cons” are in regard to profit sharing.
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There may be some confusion between the aspects of an employee bonus and profit sharing. Read this article to help you decipher and define between employee bonuses and profit sharing.
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Depending upon the state in which your business is located, as well as the government tax rates regarding bonuses like profit sharing, it is wise to know how your employees’ benefits may be taxed.
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The IRS has specific tax rules for profit sharing programs. See what those rules are as you establish your company’s profit sharing program.
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This article explains the tax rates for bonuses and profit sharing programs.
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This article examines how a lawyer with specific training in profit sharing can benefit you, your company and its employees.
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Profit sharing has become an important topic within law firms. Find out in this article how law firms are going about establishing their own profit sharing.
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