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.
Has anyone ever been to Puerto Rico?
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RickD
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Re: Has anyone ever been to Puerto Rico?
Good news...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.
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.
1 Corinthians 1:9
9 God is faithful, through whom you were called into fellowship with His Son, Jesus Christ our Lord.
Audie wrote:
"Christianity is not a joke, but it has some very poor representatives."
St. Richard the Sarcastic--The Patron Saint of Irony
9 God is faithful, through whom you were called into fellowship with His Son, Jesus Christ our Lord.
Audie wrote:
"Christianity is not a joke, but it has some very poor representatives."
St. Richard the Sarcastic--The Patron Saint of Irony
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Blessed
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Re: Has anyone ever been to Puerto Rico?
RickD wrote:Good news...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.
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