Wednesday August 3, 2022 – Today, I learned something from my Google Alerts and John Stosell. Puerto Rico has some very speical tax rules for US citizens. VERY SPEICAL TAX RULES.
Now, I found out that these tax rules have been around for some time – they aren’t new. As a tax professional, you would think I would know about such things.
Puerto Rico Act 20 and Act 22 – and later Act 60 – allows some corporations to pay 4% tax rate and some individuals to pay 0% capital gains tax. Like most every law – there are lots of rules to follow to get these tax advantages.
Attorney Steven A. Leahy reveals the Puerto Rico taxing regement on Today’s Tax Talk.
https://townhall.com/columnists/johnstossel/2022/08/03/tax-freedom-in-puerto-rico-n2611162
https://globalexpatadvisors.com/puerto-rico-taxes-how-to-benefit/
Steven A. Leahy is a tax attorney in Illinois. He was the host of the long-running popular Radio Show “The IRS Radio Hour” heard every Sunday evening on AM 560 The Answer. Attorney Leahy is also the author of the book “Deal With Your IRS Problems Today!” You can get a FREE copy of this important book at FreeIRSBook.com. Or Call 24/7 (312)664-6649