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FAQs: Tax Incentives and Going to Puerto Rico

FAQs: Tax Incentives and Going to Puerto Rico

Puerto Rico has been around the news headlines a lot recently. Especially, its status as a brand new income tax 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”, therefore we work each day assisting six- and seven-figure entrepreneurs lawfully reduce their fees with overseas income tax techniques.

For some – although not all – American organizations and their owners, Puerto Rico may be the tax haven that is ultimate. All things considered, company leaders such as for instance give Cardone have traditionally fled states that are high-tax Ca for zero-tax states like Nevada, Florida, and Tennessee.

Nonetheless, eliminating state fees is a little area of the issue; residents of Florida and Nevada still pay US federal income tax, while Puerto Rico residents usually try not to.

As we’re fond of saying right here, you can move from Florida to Puerto Rico if you can move from California to Florida.

( By the measure, some individuals may additionally wish to make one leap that is further going overseas to, state, Panama… but that’s another article.)

Numerous business owners and investors have actually questions regarding moving to Puerto Rico to lessen their fees and never have to get completely overseas. However, we’ve found that numerous among these companies and traders have actually lots of questions regarding so just how things operate in Puerto Rico.

As a result of Puerto Rico’s unique status in the united states of america, going here seems for some like residing in a international nation.

To greatly help entrepreneurs and investors understand what Puerto better Rico is about, we’ve put together this set of faq’s.

Taxes in Puerto Rico

Puerto Rico has gotten a complete great deal of attention from folks like our buddy Peter Schiff because of its income tax incentives like Act 20 and Act 22.

Only at Nomad Capitalist, we assist effective individuals legitimately reduce their taxes both by moving to Puerto Rico, or by moving overseas. (Hint: there isn’t any “one size fits all solution that is is applicable to everyone; your company is exclusive.) You can find out more about dealing with us to cut back your taxes by pressing here. (more…)

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