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Has anyone ever been to Puerto Rico?
Posted: Sat Dec 16, 2017 1:55 am
by Blessed
The real estate in Puerto Rico is very cheap right now. You can get a house near the beach for less than 100k.
Puerto Rico passed at law exempting U.S. business owners from Federal Income Taxes. If you move you're business to Puerto Rico and get your income from the U.S. - you are exempt from Federal Income Taxes. You only pay a flat 4% corporate tax to Puerto Rico - IF you own a corporation.
It's called article 20 and 21. You file a return citing the 20-21 with proof of Inc and residency in PR. The IRS exempts you an poof - you've doubled your income.
I was pretty shocked to find all this out. I'm considering moving there. Just never got along with Puerto Ricans growing up and don't speak Spanish.
Re: Has anyone ever been to Puerto Rico?
Posted: Sat Dec 16, 2017 5:11 am
by RickD
Blessed wrote:The real estate in Puerto Rico is very cheap right now. You can get a house near the beach for less than 100k.
Puerto Rico passed at law exempting U.S. business owners from Federal Income Taxes. If you move you're business to Puerto Rico and get your income from the U.S. - you are exempt from Federal Income Taxes. You only pay a flat 4% corporate tax to Puerto Rico - IF you own a corporation.
It's called article 20 and 21. You file a return citing the 20-21 with proof of Inc and residency in PR. The IRS exempts you an poof - you've doubled your income.
I was pretty shocked to find all this out. I'm considering moving there. Just never got along with Puerto Ricans growing up and don't speak Spanish.
Good news...
If you think Muslims and Christians worship the same God, you'll be happy to know that job prospects in Puerto Rico are just the same as in the US mainland.
Re: Has anyone ever been to Puerto Rico?
Posted: Sat Dec 16, 2017 10:28 pm
by Blessed
RickD wrote:Blessed wrote:The real estate in Puerto Rico is very cheap right now. You can get a house near the beach for less than 100k.
Puerto Rico passed at law exempting U.S. business owners from Federal Income Taxes. If you move you're business to Puerto Rico and get your income from the U.S. - you are exempt from Federal Income Taxes. You only pay a flat 4% corporate tax to Puerto Rico - IF you own a corporation.
It's called article 20 and 21. You file a return citing the 20-21 with proof of Inc and residency in PR. The IRS exempts you an poof - you've doubled your income.
I was pretty shocked to find all this out. I'm considering moving there. Just never got along with Puerto Ricans growing up and don't speak Spanish.
Good news...
If you think Muslims and Christians worship the same God, you'll be happy to know that job prospects in Puerto Rico are just the same as in the US mainland.
Are you a polytheist ? There is only 1 God.
Thankfully.. I don't work for someone else.
Jinx