Pay 4% Income Tax for Your Amazon Business in Puerto Rico: Seller’s Tax Haven

Pay 4% Income Tax for Your Amazon Business in Puerto Rico: Seller’s Tax Haven - AMPM Podcast EP158

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6 жыл бұрын

He pays only 4% income taxes for his Amazon business by living in Puerto Rico! Check out what John Hadden has to say about the island tax haven.
AMPM PODCAST EP158 with Manny Coats and John Hadden
See more podcasts episodes at www.ampmpodcast.com/
In episode 158 of the AMPM Podcast, host Manny Coats interviews John Hadden, an FBA seller and new resident of Puerto Rico who boasts that he only pays 4% for his income taxes and pays basically nothing on corporate gains. John talks about Act 20 and Act 22, which are Puerto Rican laws that he uses to get his tax benefits as well as the new culture that he became acclimated to. He also expresses the benefits of working with his talented in-house employees and the differences between living in Puerto Rico versus the United States of America.
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Пікірлер: 35

@reaper98765 4 жыл бұрын

Absolutely the best video on living in Puerto Rico 🇵🇷 and Act 20

@edwardrivera1929 3 жыл бұрын

PUERTO RICO IS A BEAUTIFUL TAX HEAVEN AND ALL BUSINESS PEOPLE SHOULD TAKE ADVANTAGE OF IT. 4% TAX IS A VERY SWEET DEAL, IF YOU MAKE $100,000 PER YEAR, YOU GET TO KEEP $96,000 FOR YOURSELF AND DON’T HAVE TO SHARE IT WITH UNCLE SAM. IT’S PARADISE!!!

@SuperStar-dy8hy 6 жыл бұрын

Read my lips: "Pay less taxes. Legally!" Viva Puerto Rico.

@XzibitCA 6 жыл бұрын

Cool video! Thanks John and manny for this - keep up the good work

@AMPMPodcast 6 жыл бұрын

Thank you for your feedback and for listening!

@totalDfitness 3 жыл бұрын

Great questions!

@doris9354 6 жыл бұрын

Excellent for sharing , welcome to Puerto Rico

@AMPMPodcast 6 жыл бұрын

Hi Doris, thank you for listening all the way from Puerto Rico!

@orquideasbellas 4 жыл бұрын

Puerto Rico, the Singapore of the Caribbean; it's the perfect jewel to live and start your buisness to riches. Many Puerto Ricans are college educated, and all colleges and universities have all 6 accreditation bodies from the USA- CPA, nursing, BAR, and Middle State Accreditation, which are recognized by the US Department of Education; it's the only Latin-American Country that must use American text books in English for all their course programs, as well as, same degree course consistent, to meet US accreditation, from the US. I my self hold a Puerto Rican degree, and a bachelors and master's degree from the State, mainland.

@alansmith4044 6 жыл бұрын

At the beginning of the interview your guest mentioned one of the websites where you can upload the data and visualize them would it be possible if you can just drop the link. thank you in advance

@tolmie1141 4 жыл бұрын

This sounds very cool!! Puerto Rico is great! 👍

@Larrygu 3 жыл бұрын

How is he able to run an ecommerce business and still qualify for the pr tax incentives? Since he sells his physical private label products through Amazon US and ships to the US, how is he able to not pay US taxes? According to him, he "consults" for his us entity. But what is his us entity? does he need employees in the US?

@KM-nl8xr 2 жыл бұрын

puerto rico no esta en la lista de paises que puede registrarse en amazon fba como le hago?

@ChefJenHerrera 6 жыл бұрын

Manny! Thank you for this podcast. What is the possibility of you connecting me to John? I've learned so much in these past few mintues of watching. I moved to Puerto Rico about a year ago from NY and looking to start a business out here. Also, I just checked you out on illuminatimastermind.com. Looking forward to tomorrow's webinar! Thanks ahead of time!

@AMPMPodcast 6 жыл бұрын

Thank you so much for listening! Glad you're joining us tomorrow! For more inquiries head over to our FBA High Rollers Facebook group: facebook.com/groups/AMPMPodcast

@ChefJenHerrera 6 жыл бұрын

AM/PM Podcast Awesome, thank you!!! And will do!

@Amervim 6 жыл бұрын

Excelent video. I am an accountant and tax expert down here in Puerto Rico and the way they explained was very well. The only point that I should clarify is that down here, in order for you to benefit of the 4% the entity need to be a C-CORP. Out of that very nice and explained. If you need more information feel free to reach out to me. e. Info@bonnllc.com m. 787-473-8985

@jacobrosado6181 5 жыл бұрын

Bonn LLC Would an S-Corp qualify as well? Why not an LLC

@inventamus 4 жыл бұрын

Act 20's are not retroactive. Act 22's are retroactive to Jan 1st of the Year of Move if you send 183 days that Year of the Move.

@p373c.7 5 жыл бұрын

Minimum wage in PR is federal minimum wage.

@parli_poo11 6 жыл бұрын

"Inventory on hand is considered profit" I'm new and I don't know what this means. Does this mean you have to pay taxes for inventory that you might sell at a price that you set?

@Amervim 6 жыл бұрын

tridentseven as you are keeping the profits to reinvest into the business, the retained amount ends been taxable.

@jamescrenshaw5097 4 жыл бұрын

It depends on your method of accounting. Companies of much size employ the accrual method of accounting, and when they buy inventory it is not considered an expense until sold. It is not deductible for tax purposes until it has been treated as an expense. Most start-ups use a cash method of accounting, but this may not strictly be accepted for all items you pay for. So on the cash method, you basically just look at your bank balance to know whether you are making money. When he bought the $100k inventory, that was money out the door and he assumed it was a tax deductible expense. The IRS would only allow the deduction in the period when the product is sold

@BigerBoy 3 жыл бұрын

That law is so broken. Is no good for the local economy at all. But good to take advantage of that tax for starting a business.

@wrapzoo295 4 жыл бұрын

I happen to have lived 20 years in Eugene Oregon and move to LA, now I'm planning on moving here.

@karyjimenez2472 3 жыл бұрын

is Binance banned in Puerto Rico? not Binance us

@cesicebalos2914 4 жыл бұрын

Can you give the information of your accountant number and David Nissmin ?

@diondhv 5 жыл бұрын

You need 5 employs

@jamescrenshaw5097 4 жыл бұрын

Dionicio Hernandez That changed

@jimmyrivera9415 6 жыл бұрын

fyi. everyone born in puerto rico are us citizens.

@unleashedrider4309 5 жыл бұрын

His business is a joke his company is a joke and he's tax dodger.

@jamescrenshaw5097 4 жыл бұрын

unleashed rider I cannot comment about the quality of his business, but as these provisions were put into the law to encourage people to move to PR and spend their wealth for goods and services there, he is decidedly not a tax dodger.

@robinthestate6548 3 жыл бұрын

@@jamescrenshaw5097 people just want others to pay for their stuff.