To determine cost basis you want to take the total amount paid + commission and calculate your cost per share. Lets say the stock was $10 per share and you bought 1000 shares with a commission of $10. Total cost would be $10,010. Divide that number by 1000 to get your cost per share. This equals $10.01 per share. If you sold 100 shares your cost basis is $1001. If you sold 900 shares your cost basis is $9009.
To go one step further when you sell the stock subtract the commission from the sales proceeds. If you sold 100 shares of the stock at $15 with a $10 dollar commission then your total sales proceeds will be $1490. Now just take the sales proceeds of $1490 - the cost basis of $1001 to determine your capital gains or losses. In this example you have a gain of $489. Use this same process to determine gains and losses for the other 900 shares.
Often a person who is a commissioned sales person will receive their commissions on a monthly basis. In the interim, they might receive a weekly advance or "sales draw" against their next monthly commission check. So, if there was four weeks in the month, they might receive 3 checks for, say $500 each. Then, when their actual commissions were calculated for the month, the $1,500 draw would be deducted from the commission check.
Drip Wizard (www.dripwizard.com) states that you should take your cost basis in the original Sprint shares that you owned, and allocate 18.14% of this to the Alltel shares that were spun off and keep 81.86% of the remaining basis to stay with the Sprint shares. For example, if you paid $1,000 for the Sprint shares, $181.40 is now the new basis in Alltel and $818.60 is your new basis in the Sprint shares.
Insurance agents make money on a commission only basis. You get paid only when you make a sale. This means that you will not get a regular paycheck and cannot count on earning a certain amount of money to pay bills. On an average, you can expect to make about $50,000 a year.
Special Note: Different Methods for Calculating Tax Basis in Verizon Following the Spin-off of Idearc Shareholders of Verizon who received shares of Idearc in the spin-off are required to allocate their aggregate tax basis in their Verizon shares between the Verizon shares and the Idearc shares that they received in the spin-off in proportion to the relative fair market values of their Verizon and Idearc shares (including any cash received in lieu of fractional shares of Idearc). The distribution ratio in the spin-off was one share of Idearc for every twenty shares of Verizon. Verizon stock acquired after November 17, 2006 doers not require an adjustment to tax basis for the Idearc spin-off.U.S. federal income tax law does not specifically provide a method for determining the fair market values of the Verizon shares and Idearc shares. There are several potential methods for determining the fair market values of the Verizon shares and Idearc shares, including: # the opening trading prices of Verizon and Idearc on the first regular trading day of the Idearc shares ($34.82 and $26.50, respectively, on November 20, 2006); # the average of the high and low trading prices of the Verizon and Idearc shares on the first regular trading day of the Idearc shares ($34.90 and $27.57, respectively, on November 20, 2006); and # the closing trading prices of Verizon and Idearc on the first regular trading day of the Idearc shares ($34.67 and $28.20, respectively, on November 20, 2006). There may be other methods to determine the fair market values of shares of Verizon and Idearc for purposes of allocating tax basis following the spin-off. Additional information & an example can be found at: http:/investor.verizon.com/shareowner/cost_basis_worksheet.aspx
click on google.............put in "agere cost basis"............ on page 7 of the list is a link to The Motley Fool (TMF: re:cost basis for original LU shares) that gives the information. Short-cut....when you see a "search" box in the upper right , just put in "worksheets"
the finance comission
on commission basis
"Net of commission" basis is where the quoted premium is reduced by an amount proposed to be the insurance agent's (or insurance broker's) commission.
The Reserve Bank of India was set up in india on the basis of the recommedations of the hilton young commission.
the finance commission
When you are paid on a commission basis, you receive a certain percent of the price of the goods/services you sold, rather receiving a wage or salary.
No. They usually work on a commission basis.
It's not typical in any industry that pays commission. To be clear, there is a different between gross profit and gross sales. Either way, paying commission on either is not the standard.Gross profit and gross sales implies a number beforing taking out sales taxes that a company must pay.Typically, commission is paid on net profit or net sales because the "sales person" because the company has to pay the taxes and the sales person had no bearing on these taxes.Look at it this way. When tipping (which is really like paying commission) a waiter/waitress, you should tip on the amount before taxes are added not after. Taxes are a product of the state laws, etc, not the business charging the taxes. The waiter has noting to do with something the state charges.
You are paid on a 'commission' basis.
It depends on what basis a sales rep is hired. If hiring only on commission basis it starts from 15% to 25% and if hiring against some basic salary then it would be 5% to 15%.
A job that pays you on hourly basis PLUS commission is a good job if you live in Vancouver Washington.
People who work on commission only basis are not eligible.