Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3 Billion in Income
truthout.org
This brings Tesla’s average tax rate over the past three years to 0.4 percent.
  • Asafum@feddit.nl
    33·
    9 hours ago

    Can’t wait until next year! “Tesla received 600 million, after tax payments of $0, despite $3 billion in income, 2/3rds of which were also from the federal government.”

  • JohnDClay@sh.itjust.works
    42·
    10 hours ago

    Because due to fancy accounting they haven’t made a profit? Reminds me of how movie studios can make even the most successful movies unprofitable on paper to get out of profit sharing deals.

    • kn0wmad1c@programming.devEnglish
      113·
      9 hours ago

      I think you can, but most people take the standard deduction every year (which is supposed to represent these things) rather than calculate the itemized deduction with receipts.

      • ThomasCrappersGhost@feddit.ukEnglish
        4·
        4 hours ago

        I’m presuming you do your own taxes in your country, cause here you only can if you’re self employed, and you use your home for something like an office, I think.

      • Semi-Hemi-Lemmygod@lemmy.worldEnglish
        22·
        8 hours ago

        I’ve itemized a bunch of times and you were pretty limited in what you could deduct. If you have a mortgage you can deduct the interest but not the payments. And before 2020 you deduct a portion of your household expenses if you had a home office.

        But to a business those are all operating expenses and businesses only pay tax on profits.

          • mycelium underground@lemmy.worldEnglish
            3·
            4 hours ago

            So you are going to open an LLC, transfer your wages to it(already taxed) so that you can buy everything for your life and then try and get a big deduction on the money that is left over(the LLC’s “profit”)

            I’m not sure that adds up like you think it does…

            • driving_crooner@lemmy.eco.br
              11·
              3 hours ago

              Here’s the thing: You are never going to pay for that. Just let the LLC go broke and then open other new.

              Follow me for more financial advice.

  • snekerpimp@lemmy.world
    88·
    13 hours ago

    You know what would help this? Putting another face on Mount Rushmore and renaming bodies of water.

    • hardcoreufo@lemmy.world
      6·
      5 hours ago

      Whats this about another face? I’m going to assume McKinley, since he needs a mountain in every state for some reason.

    • Shawdow194@fedia.io
      40·
      13 hours ago

      Don’t forgot reopening Guantanomo and letting the FAA collapse will also greatly benefit normal Americans

        • skulblaka@sh.itjust.works
          6·
          3 hours ago

          This is true. However, some context:

          • When Dubya opened Gitmo, it contained around 800 prisoners.

          • When Obama left office, that number was down to 40.

          • Trump deleted the government office that works to release Gitmo prisoners and ignored it for his entire first term.

          • On Biden’s entry, he re-opened that office and by the end of his term, the total number of Gitmo prisoners has been reduced down to 15.

          • Trump has now ordered Gitmo to reopen for an additional 30,000 prisoners and will likely again kill the organization responsible for appropriately dealing with those prisoners.

          I agree with you that this place should never have existed. I agree that we should destroy it. I only ask,as with most things today, that people pay attention to who has been trying to destroy it and who has been celebrating it.

  • halcyoncmdr@lemmy.worldEnglish
    112·
    13 hours ago

    Just a symptom of why the US has budget issues constantly every year.

    Companies that can afford to pay taxes with absolutely zero negative impact to operations instead get a free ride. Meanwhile most individuals pay half their income to taxes and half the country lives paycheck to paycheck.

    • danc4498@lemmy.worldEnglish
      7·
      8 hours ago

      I always like to point out that the billionaire tax cut only encouraged companies like this to give higher bonuses to their already rich executives and taking money away from their employees. I’m no accountant, but I’m willing to bet those bonuses factor in to how little taxes the corporation pays.

      You want money to trickle down? Tax the executives 70% over $10 million of income. Either the company will take a profit and pay taxes, pay their executive bonuses and the majority will just go to taxes (and the executive will still be filthy fucking rich), OR they will increase how much the bottom earners get who will be paying a much lower amount in taxes.