I am a loan broker. From time to time, I gave my clients promotional rebates when they do refinance with me. The amount could range from a few hundred dollars to a few thousand dollars. From the business point of view, I still make a good profit by giving out such rebates to encourage sales.
The question is where do I report these cash rebates as business expenses on my tax?
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I'm assuming you're self employed. Looking at the Schedule C, Profit or Loss From Business, there isn't a category for cash rewards so I would enter it as Incentives under Other expenses.
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