The major difference is that bonus mean something extra which is usually in cash and incentive is provided to motivate a person which may e in the form of extrinsic or intrinsic reward. However the...
A bounus is not related to extra work normanly related to company profits or good personel preformance. Overtime is (in usa) 1.5 times the normal wage for hours over 40 worked in a single week....
For tax purposes, nothing...and they both are the same as any income from your employer for tax.
Definitionally - Bonus is normally for achieiving certain results personally or as part of the...