Tax shelters have been a bad word since legislation was designed to eliminate what was considered abusive. From the sweeping language of the Tax Reform Act of 1986, Pub L. 99-514, tax shelters were, in essence, wiped out and became the equivalent of a 4-letter word in tax planning.
But are tax shelters really gone?
Haven’t there been cases where the IRS has alleged that certain devises are still abusive tax shelters?
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)…
Continue reading “Puerto Rico’s Act 20 and Act 22 Tax Incentives—the Best Haven for Americans”
Early adopter Justin M. Sullivan traded Stamford, Conn., for Old San Juan in December 2012. Initially, he came to Puerto Rico in search of tax breaks, but then fell in love with the laid back ways and culture of San Juan’s Old City…
Continue reading “Acts 20/22 adopters tout benefits of tax incentives”