0:00: Introduction
0:30: Act 60 Tax Incentives
2:22: Tax Filing Exercise Begins
3:54: LLC Business Classification: C Corp vs Pass Through Entity
6:05: Dealing with Double Taxation
7:45: Examine your Income Items: W2, Business Income, Shares
11:20 Tax Filing Exercise Summary
12:11: Can You DIY Your Puerto Rico Taxes?
Do you want to know what it takes to file Puerto Rico tax returns?
In this video, we’ll provide an in-depth explanation on what to consider if you would like to file your tax return by yourself after moving to Puerto Rico. Learn more about Puerto Rican tax returns here: • Puerto Rican Tax Incen... .
Act 60 provides many incentives and tax breaks for business owners and entrepreneurs. Assuming you comply with the requirements, would it be possible to file your own tax return using readily available knowledge? This video contains a detailed example considering different income sources, double taxation, and how classifications of your business and services could affect the process.
Resources:
Puerto Rico Tax Incentives - Defending Act 60 - • Puerto Rico Tax Incent...
US Tax Law: Made in Puerto Rico - • US Tax Law: Made in Pu...
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DISCLAIMER: This video is not legal, tax, or financial advice. Talk with a professional about your situation before making any legal or financial decisions.