You move to Puerto Rico for one day more than half the year to avoid income tax

Feb 18, 2021
5:24:56pm

Plato Truly Addicted User

If you are a resident of Puerto Rico as I understand it, your federal income tax is 4%.

You supposedly have to buy property there, but there are ways around that.

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Plato

Bio page: Plato
Joined: Mar 21, 2017
Last login: May 3, 2024
Total posts: 19,862 (473 FO)

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Messages

Author

Time

So there is a young couple in my ward (20s) who was gifted $1,000 by the FIL..

Don_Juan_El_Guapo

2/18/21 5:14pm

Act 20 and 22

Bad Plus Fan

2/18/21 5:15pm

🚀🚀🚀

Viva Campeche

2/18/21 5:15pm

I believe that is what they told you but I don't believe what they told you.

Baron

2/18/21 5:15pm

They didn't tell me...as of now it's a ward rumor...so, it could be fake news...

Don_Juan_El_Guapo

2/18/21 5:17pm

Trying to scam other people into putting money into their scheme

WDaddy

2/18/21 6:19pm

Ward rumor is the worst rumor out there. I'd put a .001% chance it's true

A_blue_car

2/18/21 8:06pm

Doesn’t work. If the appreciation happens before the move, they’re still

RdF3

2/18/21 5:16pm

^^^this... they need better accountants and fast...

HarlemCoug

2/18/21 5:25pm

"Guy online who advises which stock to invest in" should be easy to narrow down

Tricky

2/18/21 5:16pm

I know...I know...I haven't done my due diligence yet. They attend the other

Don_Juan_El_Guapo

2/18/21 5:18pm

Bought GME early - sold high?

Eddie

2/18/21 5:16pm

That would have netted them at most like $80k

BYUFootballisBack

2/18/21 5:21pm

So are they loser Youtube stars?

Turnpike Lane

2/18/21 5:17pm

Were they given that money in 1940?

RalphWiggam

2/18/21 5:18pm

There has to be more to the story....typically you cant invest just $1,000...

WJCougar

2/18/21 5:18pm

GME call options would have done it.

BIG XII Coug

2/18/21 5:21pm

With just $1,000?

WJCougar

2/18/21 5:27pm

Yes. Call option prices were insane at the peak. Could have bought 4000 options

BIG XII Coug

2/18/21 5:43pm

Someone actually pulled this off, read an article about it 2-3 days ago

BYUFootballisBack

2/18/21 8:16pm

Lol even if they bought and sold Doge or GME at the best possible times they

BYUFootballisBack

2/18/21 5:20pm

probably made more on the house they bought (or the parents bought) than the $1k

BYUFBDAD

2/18/21 5:21pm

You can do that in Vegas, too

ColoSpgs

2/18/21 5:22pm

You move to Puerto Rico for one day more than half the year to avoid income tax

Plato

2/18/21 5:24pm

It's my understanding that they are buying a house in Puerto Rico...they told

Don_Juan_El_Guapo

2/18/21 5:27pm

Also, why would Puerto Rico EVER want to become a state if their taxes are that

Don_Juan_El_Guapo

2/18/21 5:28pm

They are poor and have bad govt. Pretending that

Plato

2/18/21 5:47pm

$1k can only turn into so much money. Even if they put it in Tesla it's not all

Ash

2/18/21 5:30pm

Buying stock no. Buying options yes.

BIG XII Coug

2/18/21 5:45pm

Puerto Rico is about to become state # 51 — plan derailed by Biden

lyrok

2/18/21 5:33pm

Yeah this isn't true.

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