A silly question

[midwestbroker]

I would consider bartering more along the lines of trading, which may or may not change your finances. If you trade 2 $5 bills for 1 $10, you still have $10.

Now there is the whole emotional value that can only be determined by the owner and the IRS (just kidding).

 

[Slick]

I noticed today on Coventry's broker website. They offer "sales training", "sales aids", etc.
So says the Coventry horse.

 

[g1bass]

The question is not if it is income, but is it commission or enrollment fee. A commission as I understand it is a percentage of sale, whereas an enrollment fee is just that a flat fee based on enrollment. In my eyes whenever you say the word commission it entails sale, whereas as enrollment fee is just that. I know its splitting hairs, but its also perception. Have you been reading any of then bad press our industry has been getting from the media these past two weeks regarding MA's. I really believe to be effective next year and the rest of this year we are going to have to reframe our value propositions and craft them more wisely.

So what's what we should be doing is acting as Medicare Advantage Outreach Counselor,and be right up front with people in the beginning we are here to educate you and enroll you, and as a result of this we will be compensated with an enrollment fee. I am very comfortable referring to myself this way, perhaps because I worked at a Senior Insurance marketing organization that bullied and pressured old people, by doing things like enrolling medicaid people in PFFS' and taking money for annuities from seniors who had just obtained reverse mortgages. I want to distance myself as far as possible from those scumbags. I was also told by the same organization that I was an independent agent and rushed through the contracting process only to find I'd signed a non compete clause. My own stupid fault, they promised pie in the sky, and delivered bupkiss. Now all the nice people who I worked very hard to service and do right by, are their clients. Ok, I'll stop whining now.

 

[arnguy]

g1bass, sorry, I guess I read too much into your original question. I had assumed that your differentiating sale vs. enrollment and the fact that the enrollee did not tender any consideration in the transaction raised a question of the taxability of the income. Whether you describe the transaction as a sale or an enrollment is irrelevant from a tax viewpoint. It is merely semantics, and I would not be concerned about it unless your state DOI has some regulation as to the characterization of the emolument paid and whether or not it has to be disclosed to the enroll as commission paid or fee paid. Notwithstanding the aforesaid, my advice to you is "not to worry."