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Question About My First Commission Check

In summary, a commission check is a type of payment that an employee receives based on a percentage of sales or services they have made. It is commonly used as a form of compensation for salespeople and others in roles that directly impact a company's revenue. The calculation of a commission check depends on the company's commission structure and the employee's performance and sales targets. The timing of commission checks can vary, and they are subject to the same taxes as regular paychecks. It is recommended to have a plan for your first commission check, taking into consideration your financial goals and priorities.
Y
Yakmama
199
I got my very first commission check today (yay!). I was just looking at the statement, and I was wondering why I had the insurance ($2) deducted twice? I only had one show the end of September.

Also- if I have a month where there are no shows, do I still have to pay the insurance? Do they bill me for it?

And lastly- do I need to be worrying about a business license? Do I need to talk to my director about this? My husband just brought up the possibility to me today, and I guess I just didn't think I'd need one!

Thanks in advance!
 
The insurance is for Spet and Oct. If you do not have a show during one month they will deduct out of the next check you receive.

To my knowledge you do not need a business license but each town, county and state can have different laws.
 
When did you sign? You don't need a business license.
 
October insurance will be taken out of the October month-end check (paid Nov. 10).If you signed in August, then one of them would be insurance for August. You will have the insurance deduction for each month, even if you don't have any shows in a given month. In fact, if you go inactive then HO will deduct it for each month you're inactive when you finally reactivate.
 
  • Thread starter
  • #5
well shoot! I signed on Aug. 30 so I could get the kit credit! LOL That stinks I had to pay insurance for Aug! :grumpy:
 
Yakmama said:
well shoot! I signed on Aug. 30 so I could get the kit credit! LOL That stinks I had to pay insurance for Aug! :grumpy:
Click to expand...

it's only $2 and it's tax deductible.
 

What is a commission check?

A commission check is a form of payment that an employee receives based on a percentage of sales or services that they have made. It is a common form of compensation for salespeople and others in roles where they have a direct impact on the company's revenue.

How is a commission check calculated?

The calculation of a commission check varies depending on the company's commission structure. Typically, it is based on a percentage of sales or services, and there may be different rates for different products or services. The amount of the commission check will also depend on the employee's performance and sales targets.

When will I receive my first commission check?

The timing of commission checks can vary depending on the company's policies. In some cases, it may be paid out monthly, while in others, it may be quarterly or even annually. The best way to find out when you will receive your first commission check is to check with your employer or HR representative.

What taxes are deducted from a commission check?

Commission checks are subject to the same taxes as regular paychecks, including federal income tax, state income tax, social security, and Medicare. The amount of taxes deducted will depend on your tax withholding status and the amount of commission you have earned.

What should I do with my first commission check?

It is always a good idea to have a plan for your commission check, especially if it is a significant amount. Some people choose to save it, invest it, or use it to pay off debts. Others may use it for leisure activities or to make a large purchase. It is important to consider your financial goals and priorities before deciding what to do with your commission check.

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