- 15,319
Indiana producers may donate earned commissions to charities as long as clients or prospective clients have no influence over which charity receives the donation, the donation is not in the client's name, and no client or propsective client becomes elgible for a tax benefit from the donation.
Verbatim from IN Insurance Law. So be careful, I'm sure there are other states that have similar provisions.
So you could advertise that 20% of your commission goes to charity as long as the client doesn't know which charity and you get the tax deduction?
"Buy insurance from me and I'll donate a portion of the commission to the charity of my choice and get the tax deduction for myself."
I'm going to go out and buy and ad in whatever newspapers are still in Indiana.
Rick