Puerto Rico has been around the news 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 вЂњgo where youвЂ™re treated bestвЂќ, therefore we work each day assisting six- and seven-figure entrepreneurs legitimately reduce offshore tax strategies to their taxes.
For some вЂ“ not all вЂ“ American organizations and their owners, Puerto Rico may be the tax haven that is ultimate. Most likely, company leaders such as for example Grant Cardone have long fled states that are high-tax Ca for zero-tax states like Nevada, Florida, and Tennessee.
Nonetheless, eliminating state fees is just a tiny area of the problem; residents of Florida and Nevada still spend US federal income tax, while Puerto Rico residents frequently usually do not.
As weвЂ™re fond of saying right here, if you’re able to go from Ca to Florida, it is possible to go from Florida to Puerto Rico.
( because of the measure, many people may also like to make one leap that is further going overseas to, state, PanamaвЂ¦ but that is another article.)
Numerous business owners and investors have actually questions regarding going to Puerto Rico to lessen their fees without the need to get completely overseas.