Should You Move to Puerto Rico for Tax Purposes?

06/08/21 • 5 min

A lot of people are talking about moving to Puerto Rico to avoid having to pay taxes to the IRS. But it’s not that simple. In this episode, we discuss the considerations that need to be thought through before making this decision.

Previous Episode

UPDATE: Tax Increases For The “Wealthy” and More Audits

The current tax and audit regime is changing. Taxes are going up for those making more than $400K and for corporations. On top of that, more funding is going to the IRS to increase their capacity to audit and collect. These are the developments over the last month that you need to know.

Taxes Made Simple - Should You Move to Puerto Rico for Tax Purposes?

Transcript

00:00:03.529

this is Texas made simple. The only podcast that gives you the tax information you need without going too far into the weeds. I am chase Berkey, CEO and co-founder of dark CPAs. And you are curious about this whole idea of moving to Puerto Rico to avoid federal income tax. Notice how I did not use the word E-bay. It is illegal to evade taxes in the United States. As it is most countries. And this is precisely what the IRS believes is happening with those who have fals