GMS Discount vs Negotiation

[fdxpilot]

I never heard of that. . . why would that be? If I negociated a price on the car on my own, that would not be taxable income, I nevr got any money, it wasn't an investment, it was just a discount on a purchase price that I paid tax on. . .

Doesn't seem to make sense. . .

Do you have a tax accountant that can answer that?

The same reason I have to pay taxes on the price of insurance policy my employer provides me (over a certain dollar figure). The employee discount is a company funded benefit, and if you use it, it counts as income. It sucks, but it's a fact.

 

[Edmond]

The same reason I have to pay taxes on the price of insurance policy my employer provides me (over a certain dollar figure)

Wow, I never heard of that before. That really stinks! :confused