Hello,
I have a coaching and consulting company as a solo entrepreneur. I am considering giving referral bonus to friends and family once they refer me a client (up to 10% of client fees I'd receive). I am also considering giving it as a discount for my current clients for the future services if they refer someone else as well. Would this be an expense that I can write off?
I see that gift giving write off is limited $25/person, and I am hoping that offering referral bonuses can fall under promotional expenses. Is that a correct assumption?
Thank you very much in advance!
