If filing your small business taxes yourself becomes too complicated or confusing, it's advisable to consult with a professional the first time so you'll understand all of the steps and documentation needed. Step 1. Gather each tax form you need to fill out for the type of business you own.
Definition of profit sharing. : a system or process under which employees receive a part of the profits of an industrial or commercial enterprise.
Cash profit sharing plans pay annual bonuses to workers when the value of their output is greater than their base wage. In Profit Sharing and Productivity, Weitzman and Kruse discuss the use of profit sharing as a means to improve productivity.