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.
  • kn0wmad1c@programming.devEnglish
    102·
    6 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
      3·
      1 hour 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
      17·
      5 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
          2·
          1 hour 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·
            41 minutes 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.