- Banned
- #1
Figured it was time to post something worthwhile here.
There exists a community of like-minded, Fastlane living, internationally living professionals. I've recently tapped into this network and have learned some interesting things that I thought I'd share with you guys.
I've had my eye on Puerto Rico for awhile. Until recently, the only recourse for American citizens who wanted to avoid U.S taxes was to renounce citizenship. The articles below should provide a pretty clear idea of the opportunity. I'm interested to see what folks here think about this. If you're a successful or soon-to-be successful writer or service provider, and you can do your work from anywhere, imagine the consequences of not having to pay 38% (only 4% max), plus state taxes on seven or eight figures of income.
Further Reading:
Puerto Rico as an Alternative to Renunciation
Peter Schiff Goes to Puerto Rico
Puerto Rico's Tax Benefits
Why I Really Moved to Puerto Rico and You Should Too
There exists a community of like-minded, Fastlane living, internationally living professionals. I've recently tapped into this network and have learned some interesting things that I thought I'd share with you guys.
See the entire article here.FORBES: Puerto Rico Pours On Tax Incentives For Investors
Enacted in 2012, Puerto Rico’s Act 22 allows investors and traders with bona fide residence in Puerto Rico to exclude 100% of all short-term and long-term capital gains from the sale of personal property accrued after moving to PR. Act 22 exclusions include day trading and it does not require investment in Puerto Rican stocks and bonds; trades can be made with a U.S. broker or on any exchange around the world.
Americans with residence in PR report “non-PR source” income on U.S. Form 1040, and PR-source income on a PR income tax return filed with Hacienda (PR’s tax authority).
I've had my eye on Puerto Rico for awhile. Until recently, the only recourse for American citizens who wanted to avoid U.S taxes was to renounce citizenship. The articles below should provide a pretty clear idea of the opportunity. I'm interested to see what folks here think about this. If you're a successful or soon-to-be successful writer or service provider, and you can do your work from anywhere, imagine the consequences of not having to pay 38% (only 4% max), plus state taxes on seven or eight figures of income.
Further Reading:
Puerto Rico as an Alternative to Renunciation
Peter Schiff Goes to Puerto Rico
Puerto Rico's Tax Benefits
Why I Really Moved to Puerto Rico and You Should Too
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