FPP porsche- taxable?

[DeadMoneyDad]

[ QUOTE ]
Do you have to pay tax on the Cayman S if you buy it with with FPPs at Stars?

[/ QUOTE ]

A good argument could be made that you have earned it. I'm not sure of the exact tax laws but it is similar to discounts or items redeemed in a credit card rewards system IMPO.

So you've got a nice question for a tax professional.


D$D

[4_2_it]

Is rakeback taxable? [HINT: Answer is yes.]

This is no different.

[DeadMoneyDad]

Rakeback is a return of cost normally paid.

Loyality points are earned.

IMPO there is an argument to be made.

I didn't say you had a slam dunk winner just a decent argument.

As always consult a tax professional or TWO and your Lawyer before potentially taking on the IRS.

D$D

[4_2_it]

D$D,

So the argument would be that FFP redemptions are the same as someone getting a comped room or a free dinner at a B&M casino. Hmmmmm.......very interesting indeed.........

[LT22]

seems like FPP purchases could be a "benefit" or comp

do ppl pay income tax on health insurance paid for by their employer?

[Zele]

[ QUOTE ]

do ppl pay income tax on health insurance paid for by their employer?

[/ QUOTE ]

This is a bizarre exception to a fairly straightforward rule.

[Quanah Parker]

So, when will the Stars FFP store offer health care insurance?

[FatalError]

[ QUOTE ]
D$D,

So the argument would be that FFP redemptions are the same as someone getting a comped room or a free dinner at a B&M casino. Hmmmmm.......very interesting indeed.........

[/ QUOTE ]

practical reasoning and the decision of an IRS audit do not always go hand in hand

as much as this logic makes sense i don't think this is going to fly, you weren't given a porche, you ordered one

[LT22]

[ QUOTE ]
[ QUOTE ]
D$D,

So the argument would be that FFP redemptions are the same as someone getting a comped room or a free dinner at a B&M casino. Hmmmmm.......very interesting indeed.........

[/ QUOTE ]

practical reasoning and the decision of an IRS audit do not always go hand in hand

as much as this logic makes sense i don't think this is going to fly, you weren't given a porche, you ordered one

[/ QUOTE ]

you also order your food or free drink at a casino from a variety of options

I'm really interested in a legal opinion on this issue

[Jimbo]

[ QUOTE ]
So the argument would be that FFP redemptions are the same as someone getting a comped room or a free dinner at a B&M casino. Hmmmmm.......very interesting indeed.........


[/ QUOTE ]

Pretty sure these are also taxable in the USA.

Jimbo