4aapl
Moderator
Posts: 3,629
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Post by 4aapl on Jun 3, 2021 8:10:47 GMT -8
Puerto Rico currently has some major tax benefits, though my reading from it before was that the benefit was only on money earned there or while there. So business income generated there would be the benefit, as would the portion of capital gains earned while there. I looked into it a bit a couple years ago, but my understanding was that the cost basis reset, so that you paid normal capital gains on the portion of gains made before moving there. Never knowing what you might make in the future on investments, that was enough to calm my interest. A friend, who I believe owns one of those online coupon sites, also looked into it. I don't know what they ended up deciding, but in his case it likely made sense to look into it deeper. I think the problem he mentioned was worries about kidnappings and schools, and while his wife would blend in, he and his kids wouldn't. Anyways, it's just something I like to read about occasionally. This article says there are some audits around it, though it sounds like they are primarily around living there at least 183 days per year, and actually moving. This is similar to CA and NY making sure that you actually moved, so even though we were never audited and I don't know people who have been after moving from CA, I was familiar with the concepts. finance.yahoo.com/news/ultrarich-fleeing-puerto-rico-irs-084611175.html
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,098
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Post by Dave on Jun 11, 2021 1:44:29 GMT -8
Listen to Margrethe Vestager soul searching about her Apple lossFrom the comments section: There are dozens of countries that would gladly welcome Apple and it’s money to shelter. The bloated politicians in Europe that believe that corporations can be bullied into paying their higher taxes are very wrong, at least for now. Have the political elite not heard of competition and how it also applies to countries. Maybe they think that competition is not fair. And what is fair and how does it pertain to life?
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