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| *The Commerce Journal>>>Other Taxes |
What is the difference between gratuity, commission, and cash bonus? |
Which one would tip fall under? Gratuity = tip paid by customers (answers your 2nd part of this question). Commission is what you get from your employer for meeting a quota or for each sale you make (example, shoe salesman gets $7 per hour, and $1 per shoe sales as commission). Cash bonus is amount paid by your employer at your employers discretion, basically to reward employees for job well done. A gratuity is a tip. A commission is what you are paid for selling something. A cash bonus is something added on to your paycheck. Gratuity = tip Cash Bonus = lump sum bonus from employer, typically annual based on business results Commission = incremental pay on a per sale basis. i.e. for each sale you earn a commission, can be fixed amount or a percentage basis. A tip is a gratuity. m Tips are gratuities. Some people get paid on commission, which means their employer pays them an amount on each sale they make. A bonus is a one-time payment from the employer (can be more than one per year but isn't something regular). |
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