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"You can’t pay anything to anyone for the production of business unless that entity or individual is licensed as an insurance agent."
Given that, I receive referrals from several licensed agents through the year. They do not expect monetary compensation. I want to send them a gift (as a thank you) and wonder if there is a limit to how much I can spend and write off on taxes.
Given that, I receive referrals from several licensed agents through the year. They do not expect monetary compensation. I want to send them a gift (as a thank you) and wonder if there is a limit to how much I can spend and write off on taxes.