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Politics : Formerly About Advanced Micro Devices
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To: Wharf Rat who wrote (1521057)2/10/2025 11:52:22 AM
From: Tenchusatsu3 Recommendations

Recommended By
Brumar89
denizen48
Fiscally Conservative

  Read Replies (1) of 1569696
 
Wharfie,
Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3 Billion in Income
From the article:

Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3 Billion in Income (Truthout.org)
According to ITEP, Tesla was able to avoid paying $500 million in taxes by using accelerated depreciation, a tax avoidance method and incentive for businesses which allows companies to write off the costs of an asset faster than it would normally actually lose value. The company dodged another $300 million in its tax bill by claiming “unspecified ‘U.S. tax credits,’” ITEP said.
Seems pretty clever. Take depreciation costs now while you're making money. Of course you won't be able to take them in the future when the actual depreciation occurs, but by then Tesla will probably be swimming in red ink again.

What I don't understand, however, is why Tesla doesn't have to report the "accelerated depreciation" in their GAAP earnings. If Tesla can tell the Feds that they earned zero income in Q4, shouldn't the investors be told this as well?

Tenchusatsu
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