jesterdesign7
New Member
- 10
Can a P&C agent legally offer free yearly tax services to their clients?
Insurance Sales Law Question
- Thread starter jesterdesign7
- Start date
Why not? It has nothing to do with insurance. The only potential issue would be if your were also a registered rep. Then it would need to be reported to your broker dealer otherwise it is clear sailing.
Good point. I wasn't thinking in terms of a gift. I think in Indiana the value has to be less than $100. Why would anyone want to offer a free service of this sort. You are giving away way to much and assuming way too much liability.
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- 11,997
- Thread starter
- #6
jesterdesign7
New Member
- 10
The price of a service is usually determined by the service provider which in this case is me. I can set it at any price I want.
How does the price of a service determined in this case?
How does the price of a service determined in this case?
- 15,041
Not exactly. When you are giving something away, the value is the fair market value. What a willing buyer would pay a willing seller. So basically, you need to value it for whatever you would charge a person who just walked in and asked to have their taxes done.
- 11,997
They go along the lines of fair market value. I don't know anyone legitimately willing to do taxes for less than $15, but if the going rate in your area is less than what the rebate amount is then you're golden. My guess is it's criminal to do what you're suggesting.
- 15,041
JMO, the people most interested in something like this also got their car on a buy-here/pay-here lot. Unless that is your target market, it hardly seems productive.
That unless you are really interested in doing complicated returns for free, or you are doing rapid refund loans for them.
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