Puerto Rico’s Act 20 and Act 22 Tax Incentives—the Best Haven for Americans

Posted by Richard Colombik, JD, CPA on

Welcome to Puerto Rico—a 3,000-plus square-mile tax haven where US residents can enjoy zero capital gains tax and tax-free dividends on their investments and business distributions (Act 22)…

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Richard M. Colombik, JD, CPA, is an award-winning attorney and CPA with a doctorate in jurisprudence with distinction and was formerly on the tax staff of one of the world’s wealthiest families.

Mr. Colombik has also been a tax manager at a Big Four accounting firm, the State Bar’s liaison to the Internal Revenue Service (IRS), vice president of the American Association of Attorney-CPAs, and vice chairman of the American Bar Association’s Tax Section of the General Practice Council, as well as the past chair of the Illinois State Bar Association’s Federal Tax Committee. Mr. Colombik has also served on the liaison committee to the Washington, DC, National Office of the IRS. Mr. Colombik is also a member of the Asset Protection Committee, American Bar Association, and a member of its captive insurance subcommittee.

Mr. Colombik has appeared on numerous television shows, hosted a weekly radio show on tax and business planning, and authored more than 100 articles on income taxation, asset protection planning, IRS defense, and estate planning. He has also instructed more than 100 seminars to professional groups, business groups, bar associations, CPA societies, and insurance groups. This is in addition to authoring a published work on business entity structures offered by the Illinois Institute of Continuing Legal Education, as well as writing a chapter for The Estate Planning Short Course and Asset Protection Planning.

Written by Richard Colombik, JD, CPA

Richard M. Colombik, JD, CPA, is an honors graduate attorney and licensed Certified Public Accountant. Mr. Colombik is also a member of the National Liaison Committee to the Internal Revenue Service for the American Association of Attorney CPAs, Inc. and is a noted author, lecturer, and former Chairman of the Illinois State Bar Association’s Federal Tax Committee, as well as a member of the American Bar Association’s Asset Protection Committee. The creator of the Tax Law Solutions strategies, Mr. Colombik, a Managing Partner, brings a diverse taxation and Managing Business Partner background to Tax Law Solutions and its clientele.