It seems almost everywhere you look these days, bankrupt governments are raising taxes.
But no matter where you are, there are always solutions to do something about it.
For example, if you’re an Australian taxpayer, you can move to Norfolk Island and pay minimal tax. If you’re British, you can structure your assets in Gibraltar or the Channel Islands.
Continue reading “How You Can Move To Puerto Rico and Pay Almost Zero Tax”
Congratulations to incoming President Trump. Yet many have questioned what happens to income tax planning?
First, 2016 tax rates are at 39.6% for individuals and 39% for Federal Corporate rates. State taxation has not changed and has a top rate of 13.3% in California. The additional Medicare taxes are still the law, but will hopefully be eliminated in coming years.
As the U.S. Treasury Department continues to tighten its noose around offshore accounts, a new tax haven has sprung up under its nose in the Caribbean. Welcome to Puerto Rico–island of tropical breezes, and (for new arrivals only) a 0% tax rate on certain dividends, interest and capital gains.
Puerto Rico is about the same size as Connecticut but with more palm trees, twice the unemployment rate, a third the median household income and a tiny fraction of the hedge funds–a deficiency the financially teetering territory aims to correct by turning itself into a refuge for tax-oppressed millionaires and billionaires.
Continue reading “Puerto Rico Bids To Become New Age Tax Haven”
Despite Puerto Rico’s massive debt crisis, Paulson sees big profits ahead. He has plowed “quite a bit” an estimated $1.5 billion of his personal wealth into buying hotels, a resort and office buildings on the island. Paulson compares Puerto Rico today to Miami in the 1980s.
“It’s similar to that period in Miami’s history,” Paulson said Thursday at the Puerto Rico Investment Summit. “There was a lot of real estate on the beach, lots of abandoned buildings and vacant lots. That was definitely the best time to buy [in Miami].”
Continue reading “Billionaire to Put His Money in Puerto Rico”