231–240 of 267 posts
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But that's the thing, if I take my entire salary and lose it gambling I still owe the government taxes. I the person am taxed on revenue. If instead I have a corporation handle everything then I can come up with (relatively simple) systems so that I don't pay taxes and the corporation doesn't pay taxes either.
Gambling isn't considered an investment. It's consumption.
I wish this article was written with a less biased tone. I'm genuinely interested in understanding it better. As far as I can tell, the article cites two things: $500M tax savings by using an accelerated depreciation schedule (unclear if they saved $500M more by using accelerated vs a regular depreciation schedule, but I assume no) and they claimed $300M in tax credits. The article doesn't address the other $1.5B, pr…
>I think the real thing here is the weaponization of EV tax credits as some sort of boogeyman. It's a hot topic right now since Trump just ended the EV credits. Which you'd think Musk would want to keep. And beyond this article, Musk has "quiet quit" on Tesla as a car company, based on his earning calls. They said little about cars and instead deflected the hype to "AI robots" in 2027. It's all just so weird.
The goal of a good CEO is to be forward thinking and that's what he's doing. Tesla continues to grow on many fronts and is still accumulating money in the bank.
Meanwhile most other car companies are in big, big trouble. (Volkswagen, GM, etc)
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In what world is a massively profitable company paying almost nothing in taxes polarizing?
Tesla pays lots of taxes. They pay payroll taxes om their employees, they pay state sales taxes when they sell cars, &c. This is specifically corporate income taxes.
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In what world is a massively profitable company paying almost nothing in taxes polarizing?
> In what world is a massively profitable company paying almost nothing in taxes polarizing? I mean they didn't just decide not to pay taxes. They followed the tax law. They accelerated some depreciation to take it now at the expense of a higher tax bill later. They took advantage of some government credits. Corporate taxation is only one point of taxation. They pay payroll taxes, they pay sales tax on equipment they…
Most states exempt equipment purchased by manufacturers from manufacturing their products from sales tax. I believe many also exempt raw materials that go into those products.
That Tax Foundation says [1] that both California and Texas (which I believe are the states where Tesla has factories) are states with such an exemption, although I'm seeing other sources that say that California's is just a partial exemption.
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> 4. Journalism is in a battle with the current administration Is this controversial?
Yes, as it should be. Criticize the policies, not an administration led by a party you don't align with.
For example, the FCC regularly receives complaints against pretty much every broadcaster that they are biased and the FCC regularly dismisses those because broadcasters are supposed to be allowed to take positions that politicians may disagree with.
Until now. The new FCC chairman reinstated complaints against all the major network stations that were alleged to have a liberal bias and is now subpoenaing them, and did not reinstate any complaints against major network stations (e.g., FOX) that allege conservative bias.
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Check out Hess v Commissioner. For certain types of businesses the individual is almost indistinguishable from the business.
To save people the trouble. > The relevant ruling on this subject came in 1994 in a case known as Hess v. Commissioner. The plaintiff, a self-employed exotic dancer, had implants that expanded her bust size to the size 56FF. For tax purposes, she treated these as a deductible business expense on her schedule C. The IRS contested her deduction. > ... The courts ruled in her favor: https://taxfoundation.org/blog/how-br…
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If you're using business income to invest in yourself as an individual, that's pretty illegal where I live. Maybe it's different where you are. The extent to which I can invest in myself is using business supplies or equipment for personal tasks here and there. Like, print some things or use some software I didn't pay taxes on. I know some people go as far as driving their work vehicles around, but that's totally ill…
Check out Hess v Commissioner. For certain types of businesses the individual is almost indistinguishable from the business.
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> Tax credits seem to make sense for an EV company? That's one of the things that I've found odd. A lot of people that very strongly support things like tax credits for EV cars, in order to fight climate change, will then turn around and talk about how terrible they are when they're actually used, such as in the article here. A lot of times people don't seem to have a consistent view of what they actually want, and w…
I'd imagine that they are different people. Arguing with crowds can be a bit frustrating because the crowd will argue strongly in favour of something, then the winds shift and the crowd argues strongly against it without anyone really changing their minds. Ditto strongly believing contradictory things. If we want to talk specifically about social media sites like HN, the conversation is really steered by the up/down…
This is a good point. It took me a while to realize this. It is like "winds" are magnified and out shout the prior wind.
A similair concept politically is when some people want to punnish you for some other people holding it wrong or something.
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> But we don't care about more profits, we care about more EVs. Which is why the tax credit is for making EVs.
you're just circling back to the GP's last comment, without refuting that comment. >Credits on profits incentivize short term profit taking, while credits in products incentivize number of units shipped. The second is much better for society.