[Pyewacket69]

Originally Posted by BEMR

Whenever money changes hands, its a taxable event, then on the other hand if the 1000 you mentioned came prior to your purchase to reduce the purchase, then the 1g would in fact be meaninglessness.

Because think about it, lets say you got a price match difference of 20g on a 40g purchase, in essence somebody just handed you $20,000. you then would have made $20,000 tax free.

It works under the same premise as though you won something like a raffle or lottery the value of the item even if you could find it cheaper would be considered a taxable event it would be up to you to prove that you can find that item cheaper to lower your tax. Taxable events can be with or without the transfer of cash.

That's simply incorrect...

Enticements to purchase an item, either cash or no cash are taxable.

Earning a rebate or award by meeting performance standards are NOT taxable in most, if not all states, or federally.

Getting a refunded amount for overpayment, or for buying a non-delivered good or service Is definitely not taxed.

[BEMR]

Originally Posted by Pyewacket69

That's simply incorrect...

Didn't want to mention this but, lol, this IS my business and after 35 years of tax accounting I better know this one.

I know its hard to understand tax logic I deal with clients everyday that you have explain things that just seem so simple but hard to understand.

[BEMR]

although your comment on non delivered goods that is true but you weren't talking about that originally

[Pyewacket69]

Originally Posted by BEMR

Didn't want to mention this but, lol, this IS my business and after 35 years of tax accounting I better know this one.

I know its hard to understand tax logic I deal with clients everyday that you have explain things that just seem so simple but hard to understand.

No offense, but I wouldn't use your service, if that's your tax advice.

Your advice directly conflicts with everything I've experienced, and at 61 years of age, running several businesses, I've had some experience as well...

[Pyewacket69]

Originally Posted by BEMR

although your comment on non delivered goods that is true but you weren't talking about that originally

That's exactly what I was referring to... An alarm paid for but not delivered on the vehicle.

[BEMR]

Originally Posted by Pyewacket69

That's exactly what I was referring to... An alarm paid for but not delivered on the vehicle.

who's to say the alarm was paid for? bmw is saying the alarm was not pay for because it was not included on the original vehicle that I took delivery of. let's say they decided to give me $5,000 are you telling me that that's $5,000 I could receive it completely tax free you and I are about the same age and trust me I've been licensed to do this line of work for longer than you could imagine you need to talk to your accountant and find out what I'm telling you to have him explain it to you maybe you would understand this a little bit better but whenever cash changes hands and you've already been delivered a product it is nothing to do with the product anymore it's all about now the cash changing hands call your tax guy or cpa or otherwise and have him explain that to you because it doesn't sound like as experienced as you are you have been very informed with what you were talking about sorry I am an expert at this I'm not trying to put you down either this is my line of work sir.

[Pyewacket69]

Originally Posted by BEMR

who's to say the alarm was paid for? bmw is saying the alarm was not pay for because it was not included on the original vehicle that I took delivery of. let's say they decided to give me $5,000 are you telling me that that's $5,000 I could receive it completely tax free you and I are about the same age and trust me I've been licensed to do this line of work for longer than you could imagine you need to talk to your accountant and find out what I'm telling you to have him explain it to you maybe you would understand this a little bit better but whenever cash changes hands and you've already been delivered a product it is nothing to do with the product anymore it's all about now the cash changing hands call your tax guy or cpa or otherwise and have him explain that to you because it doesn't sound like as experienced as you are you have been very informed with what you were talking about sorry I am an expert at this I'm not trying to put you down either this is my line of work sir.

Now you're playing semantics... Blah, blah, blah.

When I purchase a vehicle (or special order one), I have a detailed option listing.

I KNOW what I'm paying for, and what I SHOULD be getting. It's called a sales contract.

If the delivered vehicle isn't delivered as promised, equipment wise, and I elect to receive a refund for the missing equipment, it would not be considered income.

Period. End of story.

[BEMR]

Originally Posted by Pyewacket69

Now you're playing semantics... Blah, blah, blah.

When I purchase a vehicle (or special order one), I have a detailed option listing.

I KNOW what I'm paying for, and what I SHOULD be getting. It's called a sales contract.

If the delivered vehicle isn't delivered as promised, equipment wise, and I elect to receive a refund for the missing equipment, it would not be considered income.

Period. End of story.

Here's what you could ask your CPA, is it income and or basis adjustment or nothing at all.

Let's say that I valued the alarm and avoidance of arbitration at 10g, is that still tax free? Because I am going to deal with BMW its not going to be just a last years cost of an option 302 that for the new year it wasn't an option, but standard unpriced standard equipment.

[Pyewacket69]

Again, you're adding assumptions that aren't part of the equation.

Of course, if you get a $10K refund for a missing $500 option, that's a bit different than getting a $750 refund for a missing $500 option.

While, technically speaking, there's an "overage" in both cases, but from my experience, the extra $250 can easily be added into the extra cost of having to go through the refund process to begin with...without any tax consequences.

Now, if you can somehow get the $10 K from BMW for a $500 option, your missing your potential by being in the wrong business. BMW probably isn't gonna play that way, is it? Nothing lost by trying, I guess...

If the specs for, say, a currently advertised 228i include the security and alarm system on the specifications page (and its currently there, by the way), and you have a copy dated the day you order your vehicle, then you have proof you paid for the option. As a side note, I ALWAYS print a copy of the specs sheet and have it initialed by the sales admin when ordering a car, just to avoid such instances, but that's neither here nor there for this discussion...

A reasonable cost for the missing option, once determined, can be refunded without any tax consequences.

It's just that simple.

Edit: I go through the extra effort during the ordering process due to a "unfortunate misunderstanding" I had buying a vehicle when I was much younger.

I learned no amount of documentation is ever too much when buying a vehicle.

[BEMR]

Originally Posted by Pyewacket69

Again, you're adding assumptions that aren't part of the equation.

Of course, if you get a $10K refund for a missing $500 option, that's a bit different than getting a $750 refund for a missing $500 option.

While, technically speaking, there's an "overage" in both cases, but from my experience, the extra $250 can easily be added into the extra cost of having to go through the refund process to begin with...without any tax consequences.

Now, if you can somehow get the $10 K from BMW for a $500 option, your missing your potential by being in the wrong business. BMW probably isn't gonna play that way, is it? Nothing lost by trying, I guess...

If the specs for, say, a currently advertised 228i include the security and alarm system on the specifications page (and its currently there, by the way), and you have a copy dated the day you order your vehicle, then you have proof you paid for the option. As a side note, I ALWAYS print a copy of the specs sheet and have it initialed by the sales admin when ordering a car, just to avoid such instances, but that's neither here nor there for this discussion...

A reasonable cost for the missing option, once determined, can be refunded without any tax consequences.

It's just that simple.

Edit: I go through the extra effort during the ordering process due to a "unfortunate misunderstanding" I had buying a vehicle when I was much younger.

I learned no documentation is too much when buying a vehicle.

I'll post my results for the most part since as far as I am concerned they admit it should have been there and failed to provide the purchased contracted product as advertised. I'm not an attorney, but as far as I am concerned they only have 2 options other than offering 500 dollars, to either reorder car as ordered, or buyback car.

I recently heard from a master tech at BMW, that they are trying hard to reduce their buyback programs. This may be an effort to hold themselves to the new standard. But in CA if I push this hard enough they will buyback vehicle since we're talking about a safety feature especially, and not a LED vs Xenon type issue.

[Pyewacket69]

Originally Posted by BEMR

I'll post my results for the most part since as far as I am concerned they admit it should have been there and failed to provide the purchased contracted product as advertised. I'm not an attorney, but as far as I am concerned they only have 2 options other than offering 500 dollars, to either reorder car as ordered, or buyback car.

I recently heard from a master tech at BMW, that they are trying hard to reduce their buyback programs. This may be an effort to hold themselves to the new standard. But in CA if I push this hard enough they will buyback vehicle since we're talking about a safety feature especially, and not a LED vs Xenon type issue.

Well, even though we may disagree on what is/isn't taxable, I wish you good luck in getting a suitable resolution.

As I said in my last posting, I had that experience years ago, so I know how it must make you feel. There's nothing like having a great feeling of owning a nice new car go south because it wasn't equipped the way you ordered it.

It can be a real bummer... Again, good luck!

[Pyewacket69]

Additionally, I remember reading posts about early buyers on M235's with the deluxe HK stereo system, but the cars delivered with fewer speakers than the specs listed.

That could have been on this forum, or somewhere else...

IIRC, the offered amount to compensate the missing speakers was in the $300-400 range.

[_dmglce]

Originally Posted by BEMR

Who is it by the way that offered you a thousand

The $1k was offered to me by the GM of the dealership. I'm refusing to take it, $1k doesn't change anything, its not a lot of money to even consider. At this point, it is about the principle that the car is suppose to be standardly equipped with alarm but is not. They cannot pay their way out of this mistake, I'm waiting for my new vehicle.

[BEMR]

Originally Posted by _dmglce

The $1k was offered to me by the GM of the dealership. I'm refusing to take it, $1k doesn't change anything, its not a lot of money to even consider. At this point, it is about the principle that the car is suppose to be standardly equipped with alarm but is not. They cannot pay their way out of this mistake, I'm waiting for my new vehicle.

I'm on same page on that, but is car officially ordered? Or what? BMWNA told me only 500.00 period and I'm refusing that!

[Pyewacket69]

Originally Posted by _dmglce

The $1k was offered to me by the GM of the dealership. I'm refusing to take it, $1k doesn't change anything, its not a lot of money to even consider. At this point, it is about the principle that the car is suppose to be standardly equipped with alarm but is not. They cannot pay their way out of this mistake, I'm waiting for my new vehicle.

I don't blame you, especially if the vehicle was a special order.

That's why one orders a vehicle... To get EXACTLY what they want, the way they want it.

[Zooks527]

Originally Posted by BEMR

... but whenever cash changes hands and you've already been delivered a product it is nothing to do with the product anymore it's all about now the cash changing hands ...

You think so, huh?

So, if I get in an accident, do $5000 damage to my car, and then take the cash from the insurance company instead of having my car repaired, you would consider that $5000 to be taxable? Of course it isn't, as it's compensation for your loss, not a gain. Similarly, compensating a customer for non-delivery of a contracted and paid for item is not a taxable event.

As a side note. There are two double-wide keys in the base line of your keyboard, as well as a host of little dots, curves, and other squiggles. Use thereof would make your posts more reader-friendly.

[BEMR]

Originally Posted by Zooks527

You think so, huh?

So, if I get in an accident, do $5000 damage to my car, and then take the cash from the insurance company instead of having my car repaired, you would consider that $5000 to be taxable? Of course it isn't, as it's compensation for your loss, not a gain. Similarly, compensating a customer for non-delivery of a contracted and paid for item is not a taxable event.

As a side note. There are two double-wide keys in the base line of your keyboard, as well as a host of little dots, curves, and other squiggles. Use thereof would make your posts more reader-friendly.

In that case specifically the 5000 WOULD NOT be taxable since the key there is, a reduction in basis caused by the accident. If the accident only caused 1000 in damage, then the possibility is taxable income if they just out of a kind regard, gave you 5000 instead. Hope you understand that.

Also most of my posts are done from my note4 and are talked into text, and don't normally use emotion icons, but thanks for the advice.

[Transfer]

Good grief. Why would anyone ever think about reporting an option refund to uncle sam? The guv doesn't have any idea what was supposed to be on the car and how much it's worth and how much "profit" you get on a $1000 refund. Also, I'm sure BMW wouldn't issue a check minus tax. If anything you should get a check PLUS tax.

[_dmglce]

Originally Posted by BEMR

I'm on same page on that, but is car officially ordered? Or what? BMWNA told me only 500.00 period and I'm refusing that!

Yes, they ordered the car last week for me. Now it's just the waiting game for 2-2.5months

Wow, so BMW NA only offered $500, nothing more even though it's a mistake on their end? I have even addressed the HK system issue to their attention (not that I am seeking any kind of compensation) but rather help prevent people who are ordering a 2series in the future to be misled by this option.

[BEMR]

Originally Posted by _dmglce

Yes, they ordered the car last week for me. Now it's just the waiting game for 2-2.5months

Wow, so BMW NA only offered $500, nothing more even though it's a mistake on their end? I have even addressed the HK system issue to their attention (not that I am seeking any kind of compensation) but rather help prevent people who are ordering a 2series in the future to be misled by this option.

My GM is good at this he's reaching out for new order, but what about HK Sound system, we ordered that, are you saying we probably didn't get that either?

[BEMR]

HK paid for sound option is missing, thanks for pointing that out.

[_dmglce]

Originally Posted by BEMR

HK paid for sound option is missing, thanks for pointing that out.

There's no Logic 7 in the HK, compared to every other line up model. Paid same price but no Logic 7