How to Reduce Your Taxable Income to Almost Nothing?
Audio version available here:
Length: approx. 1 min.
If you run a business and are looking to reduce your taxable income, investing in Puerto Rico could be an option. Puerto Rico Incentives Code, also known as Act 60, primarily aims to boost income for Puerto Rico after its continuous economic decline. Under Act 60, qualifying businesses or investors outside Puerto Rico can enjoy up to a 100% exemption on income tax distributions, property tax, and municipal license tax. The services covered by Act 60 are diverse and abundant, encompassing industries such as Research & Development, Advertising and Public Relations, Consulting services, Creative Industries, and more. The list is extensive, so it is essential to review the official packet on Act 60 to see if your business qualifies. We understand that investing or starting a business outside the US can be overwhelming. That is where XQ CPA can help! Our team is ready to guide you through the process and ensure you make the most of the opportunities available. Give us a call at 832-295-3353, or visit our website at www.xqcpahouston.com to schedule an appointment.