nokkieny
American looking for information about Puerto Rico
Forum posts
19
About me
American, In a relationship
Lives in Rincon, Puerto Rico
Speaks English
Registration: 09 May 2017
IVU Taxes & Short Term Rental Houses by melendezki
Is a vacation home in Puerto Rico, with a NAICS Code of 721199, required to pay 10.5% IVU taxes to the Hacienda Department and 1% to the appropriate municipality, in addition to 7% to the Tourism Company?
I think what you are going to find, and I am interested to hear it, is that some people simply don't bother paying the airbnb tax, there is probably very little oversight and they aren't going to hunt you down. So if you have a small ... Read More
Where else? by WarnerW
So some folks have mentioned that PR has not been the only place to catch their eye. Same for me. Figured I'd start a thread on that topic. Where else have you considered? Like many, I've considered the DR. Similar in climate and ...
Sorry to continue hijacking this thread but here is a great article on buying and lending: https://www.linkedin.com/pulse/20141111173110-2770865-14-things-we-learned-buying-a-home-in-puerto-rico I had no idea mainland banks didn't lend, and ... Read More
IVU Taxes & Short Term Rental Houses by melendezki
Is a vacation home in Puerto Rico, with a NAICS Code of 721199, required to pay 10.5% IVU taxes to the Hacienda Department and 1% to the appropriate municipality, in addition to 7% to the Tourism Company?
I am no expert, but there is no way way this is true. An occupancy tax is basically a sales tax on hospitality, just as if you had a banana stand in PR and lived in the states, you would still pay sales tax on banana sales. That being said, and ... Read More
IVU Taxes & Short Term Rental Houses by melendezki
Is a vacation home in Puerto Rico, with a NAICS Code of 721199, required to pay 10.5% IVU taxes to the Hacienda Department and 1% to the appropriate municipality, in addition to 7% to the Tourism Company?
This is interesting. From my limited experience if a room tax/sales tax is required it is paid by the renter through airbnb. So in PR, the owner has to add up their receipts and submit 7% to the tourism company? That is a lot of money in a low ... Read More
New members of the Puerto Rico forum, introduce yourself here 聳 1st quarter of 2017 by Julien
Hi all, Newbie on the Puerto Rico forum? Don聮t know how to start? This thread is for you ;) We invite you to introduce yourself on this topic, to share with us your expat story if you are already living in the country, or to tell us more ...
Mrkpytn, I definitely want to check out Ponce and what you have developed in a few years. Maybe you could give me some tips and whatnot about setting up airBNBs in PR once all is said and done. I am not as ambitious as you at this point in my life, ... Read More
Exploring a Move by SteuernAnwalt
I am a tax attorney/accountant in the US. My wife is from South America and I am of Latin background. She of course speaks native Spanish, I speak it quite fluently, near native. We are considering a move to PR if we qualify for Law 20 circa ...
I am so confused by this person, Read More
Moving to PR in less than 30 days by leela007
Hi With less than 30 days to go I am extremely nervous as is, then taking the current situation going on there has my blood pressure rising.. HELP..... Any advice?????
I was talking to a TSA agent in san juan, he told me he came 10 years ago and never left. Then he took my bug spray :mad: Read More
Exploring a Move by SteuernAnwalt
I am a tax attorney/accountant in the US. My wife is from South America and I am of Latin background. She of course speaks native Spanish, I speak it quite fluently, near native. We are considering a move to PR if we qualify for Law 20 circa ...
I keep hearing that rincon is gringo headquarters, which I have been aware of. We spent a day there, albeit brief and primarily with a puerto rican couple. I am just wondering if it is so isolated we aren't even going to be able to practice our ... Read More
Moving to PR in less than 30 days by leela007
Hi With less than 30 days to go I am extremely nervous as is, then taking the current situation going on there has my blood pressure rising.. HELP..... Any advice?????
What is the attitude at utility companies or stores towards people in the process of learning spanish? Read More
Exploring a Move by SteuernAnwalt
I am a tax attorney/accountant in the US. My wife is from South America and I am of Latin background. She of course speaks native Spanish, I speak it quite fluently, near native. We are considering a move to PR if we qualify for Law 20 circa ...
Yes, But instead of bringing my business over, I would simply retire. I would focus on keeping my income from rental properties below 61.5k, so I am not in the highest tax bracket and I would likely focus more on rental properties than financial ... Read More
Exploring a Move by SteuernAnwalt
I am a tax attorney/accountant in the US. My wife is from South America and I am of Latin background. She of course speaks native Spanish, I speak it quite fluently, near native. We are considering a move to PR if we qualify for Law 20 circa ...
Act 22, So $5k a year donated to local non-profits, I assume that is tax deductible. I am a bit confused about the long term capital gain language my translation is a bit iffy and I dont see the images it is referencing. But it sounds like possibly ... Read More
Exploring a Move by SteuernAnwalt
I am a tax attorney/accountant in the US. My wife is from South America and I am of Latin background. She of course speaks native Spanish, I speak it quite fluently, near native. We are considering a move to PR if we qualify for Law 20 circa ...
This probably doesn't apply to you as I assume you are much higher than 60k, but the marginal rates leading up to 60k are lower, my rough calculations are $2700 in savings at 61.5k income. So lets play catch up US RATES: 61.5 to 91.9 @ 25% = ... Read More
New members of the Puerto Rico forum, introduce yourself here 聳 1st quarter of 2017 by Julien
Hi all, Newbie on the Puerto Rico forum? Don聮t know how to start? This thread is for you ;) We invite you to introduce yourself on this topic, to share with us your expat story if you are already living in the country, or to tell us more ...
Very interested, I have online businesses now, and am trying to do something with airbnb, I was thinking a guesthouse or some small standalone cottages. Do you currently have residency there? I know for Act 22, you must not have been a resident ... Read More
New members of the Puerto Rico forum, introduce yourself here 聳 1st quarter of 2017 by Julien
Hi all, Newbie on the Puerto Rico forum? Don聮t know how to start? This thread is for you ;) We invite you to introduce yourself on this topic, to share with us your expat story if you are already living in the country, or to tell us more ...
Do you have any additional info on that? This could be huge for me. Read More
New members of the Puerto Rico forum, introduce yourself here 聳 1st quarter of 2017 by Julien
Hi all, Newbie on the Puerto Rico forum? Don聮t know how to start? This thread is for you ;) We invite you to introduce yourself on this topic, to share with us your expat story if you are already living in the country, or to tell us more ...
I wonder if a rental home is considered a "guest house", I had also seen some properties that were bungalows or a hostel setup, which would be cool. But, they make it sound like if you purchase an existing "hotel" it must be ... Read More
Our experience in purchasing a home in beautiful Puerto Rico. by BrianTX
Here's the story: My wife and I put our home in Texas on the market in February of 2016. After lots of discussion, we (which means my beautiful wife) decided that it was just too far from everything. We live out in the country and even to go ...
Great write-up, any regrets? plan on renting for 6-12 months and really exploring before buying. Read More
New members of the Puerto Rico forum, introduce yourself here 聳 1st quarter of 2017 by Julien
Hi all, Newbie on the Puerto Rico forum? Don聮t know how to start? This thread is for you ;) We invite you to introduce yourself on this topic, to share with us your expat story if you are already living in the country, or to tell us more ...
http://businessinpuertorico.com/documents/ACT-73-PG.pdf I am not sure exactly how it would apply to a rental, other than if you rent to a business classified under act 73, or possibly this clause: "鈥� The construction of social interest ... Read More
New members of the Puerto Rico forum, introduce yourself here 聳 1st quarter of 2017 by Julien
Hi all, Newbie on the Puerto Rico forum? Don聮t know how to start? This thread is for you ;) We invite you to introduce yourself on this topic, to share with us your expat story if you are already living in the country, or to tell us more ...
I am not seeing how act 73 would apply to a rental property. I am just wanting to rent out part of my house, not open a bed and breakfast or hotel. Read More
New members of the Puerto Rico forum, introduce yourself here 聳 1st quarter of 2017 by Julien
Hi all, Newbie on the Puerto Rico forum? Don聮t know how to start? This thread is for you ;) We invite you to introduce yourself on this topic, to share with us your expat story if you are already living in the country, or to tell us more ...
Hi, Me and my girlfriend just got back from a week in PR, and loved it. Basically decided we want to move there. We really enjoyed the island the the people we met. We are probably about 2 years away from actually moving, but I enjoy planning ... Read More