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Pay plans – the documents that summarize how compensation will be calculated for commissioned employees – are a major source of confusion for dealers. Even worse, poorly written pay plans can cost you in the form of litigation alleging breach of contract or fraud.
While a newsletter article isn’t quite the same as advice from a consultant or legal counsel, we can provide you with an overview of what a good pay plan includes, along with tips for typical positions at a dealership.
For the last two years about this time, I provided the basic tax depreciation/expense rules that can help salespeople in making new and used equipment sales before year end. Because of some changes, it is timely to revisit these rules.