Puerto Rico has been around the headlines a lot recently. Particularly, its status being a brand new taxation haven for Americans has landed it on editorial pages from Forbes to GQ.
Only at Nomad Capitalist, we think everywhere has the right to “go where you’re treated best”, and now we work each day assisting six- and seven-figure entrepreneurs legally reduce offshore tax strategies to their taxes.
For some – although not all – American companies and their owners, Puerto Rico could be the tax haven that is ultimate. All things considered, company leaders such as for instance give Cardone have long fled states that are high-tax Ca for zero-tax states like Nevada, Florida, and Tennessee.
But, eliminating state fees is just a little area of the issue; residents of Florida and Nevada still spend US federal income tax, while Puerto Rico residents usually try not to.
As we’re fond of saying right right here, you can move from Florida to Puerto Rico if you can move from California to Florida.
( because of the measure, some individuals may also desire to make one further jump to going overseas to, say, Panama… but that is another article.)
Continue reading “FAQs: Tax Incentives and Going to Puerto Rico”