FAQ

Home-Office Tax Strategy Guide: A Step-by-Step Plan for Maximizing Your Tax Benefits

Working from a home office has become increasingly common, with remote work arrangements on the rise. Whether you’re a full-time remote worker, a freelancer, or a small business owner, your home office can provide significant tax benefits. In this comprehensive step-by-step guide, we’ll walk you through the process of maximizing your tax benefits while staying compliant with tax laws.

The Benefits and Considerations of Putting Your Children on the Payroll

Hiring your children and putting them on the payroll can be a strategic and financially savvy move, provided it’s done legally and for legitimate work. This practice offers several advantages for both parents and their children, ranging from tax benefits to valuable life lessons. In this article, we explore the benefits and key considerations of …

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As per the IRS, what do I need to do to becoming a Bona Fide Resident of Puerto Rico

According to the IRS, to be considered a bona fide resident of Puerto Rico, you must meet the following criteria: If you meet all of these criteria, you will be considered a bona fide resident of Puerto Rico for tax purposes. This means that you will be subject to Puerto Rican income tax on your …

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Act 60 – Resident Individual Investor

Act 60, Chapter 2, is a tax incentive program for individual investors who relocate to Puerto Rico. The program offers a 100% exemption from Puerto Rico income taxes on interest, dividends, and certain capital gains. To qualify for the program, investors must become bona fide residents of Puerto Rico. This means that they must spend …

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